It's Christmas Time!

UPDATE 2:30 pm: Going to take a break. I'll recap what happens later.

UPDATE 2:25 pm: Orpik's return not looking good. He currently has two offers on the table of $4.25 million a year. It's either the Rangers, Sabers, Capitals, Sharks, Coyotes and Wild. Also, Pens have made offers to Jagr, Rolston, and Naslund. Offers to each are for two years.

UPDATE 2:20 pm: Sportsnet.ca says Pens are courting Jagr. Could be 2 years at $5 million.

UPDATE 2:10 pm: Eaton signs with the Pens for two years, $2 mil total. Also some team offered Sundin $10 million a season for two seasons. Also, the Chicago Blackhawks have offered Marian Hossa a 6 year, $50 million deal.

UPDATE 1:55 pm: Pens pursuing Mark Eaton, but at a reduced rate. They're also aggressively pursuing Ruutu and Orpik.

UPDATE 1:50 pm: More info on the Zidlicky trade. Also, Spectors has Andrew Brunette going to Minnesota in a multi year deal and Anton Babchuk going to the Hurricanes for a year. Offer from Pens to Rolston says it was two years, $9 million.

UPDATE 1:35 pm: Kyle Wellwood accepts a deal for just under $1 mil a year for a year from the Canucks, and Nashville sends Marek Zidlicky to the Wild for Ryan Jones and a 2nd round pick.

UPDATE 1:25 pm: Rumor has it Pens have upped the years on Hossa.

UPDATE 1:15 pm: Blake Wheeler officially a Bruin.

UPDATE 1:05 pm: Sources say "all mid tier players are in play" but Pens are extremely interested in Naslund and Rolston. Hossa still on their radar. Ruutu and Laraque giving Pens the chance to match any offer. Also, CuJo heads back to Toronto on a one year deal. No money released yet.

UPDATE 1:00 pm: Montreal, Nashville, Colorado rumored in strong pursuit of Georges Laraque. Maybe three more involved in talks. Also, Pens have offered deals to Naslund and Rolston. More details to come if all true.

UPDATE 12:50 pm: Radim Vrbata signs with Tampa for $3 mil a year for 3 years.

UPDATE 12:40 pm: Another rumor! San Jose, Rangers, Washington, Buffalo, Minnesota and Phoenix have inquired about Brooks Orpik

UPDATE 12:30 pm: Details on the up-and-coming Malkin extension (rumored to mirror Sid's $8.7 million a year cap hit) and more words about the Dupuis signing.

UPDATE 12:25 pm: Chicago trades Rene Bourque to Calagary for a 2nd round pick.

UPDATE 12:20 pm: Pens inquiring about Sean Avery, and making a big run at Brian Rolston. Also poking around at Radim Vrbata, Markus Naslund, and Michael Ryder. I remind you, unless there's a solid link attached to an update, take these with a grain of salt.

UPDATE 12:12 pm: TSN and Sportsnet are reporting the Dupuis deal is for $1.4 mil a year. Also Anaheim re-sign forward Corey Perry to a five-year deal worth $26.625-million which will average $5.325-million a year.

UPDATE: 12:10 pm: TSN reports the Edmonton Oilers have traded defenceman Joni Pitkanen, a restricted free agent, to the Carolina Hurricanes in exchange for forward Erik Cole. Details here.

UPDATE 12:00pm: Sources at TSN saying that Brad Stuart agreed to terms on a 4 year contract that averages $3.75 million per year. Details to follow. Also rumored deals on the table of two years for Ruutu (no money mentioned), 5 years at $18 million for Orpik, and 7 years for $52 million for Hossa.

UPDATE 11:55 am: Reports of Adam Hall being offered a two year deal.

UPDATE 11:50 am: Reports from Dave Molinari of Pascal Dupuis re-signing with the Pens for three years, $1.2 million a year.

UPDATE 11:45 am: Jay Pandolfo re-signs with Devils, as do fellow forward Barry Tallackson. Details to follow. Sergei Brylin's option declined.

UPDATE 11:35 am: Oilers trade Raffi Torres to the Blue Jackets for Gilbert Brule to free up some cap room.

UPDATE 11:10 am: Boston Herald says Bruins unlikely to make big splash. More likely to find second tier scoring options.

UPDATE 10:30 am: New Jersey has signed Bryce Salvador for 4 years, averaging $2.9 million a season. It's Bryce Salvador. I'm not doing the math.

Less than two hours to go until free agency officially begins and things are already starting, with the Capitals re-signing Mike Green to a 4 year deal worth $5.25 million a year.

Yesterday the Red Wings locked up Andreas Lilja for four years, and the Sabers inked Paul Gaustad to a four-year, $9.2 million contract.

Follow the free agency madness here. We'll try to keep you up to date as much as possible, but as we have other lives we can only do so much.

Biggest rumors at the time are the Oilers and Bruins wanting in on the Hossa sweepstakes and looking like they're going to go big or go home in the process with deals in excess of $8.3 and $9 million a year being rumored in each case. If Hossa comes back, you better be extra happy because he probably left a lot of potential money on the table.