Latest rumors, news, contracts from Day 1

The most exciting part of the NHL offseason has arrived.

Free agency begins Saturday at noon ET, when teams can officially sign players from rival teams to new contracts.

Salary cap space is limited for many teams because the cap rose just $1 million to $83.5 million for the 2023-24 season. As a result, we might see a lot of one-year contracts for players with the hopes of cashing in next summer when the cap is projected to be much higher.

It should still be a busy Day 1, though, as teams look to scoop up the best veterans on the market, including players such as Tyler Bertuzzi, Ryan O’Reilly and Dmitry Orlov.

Keep it right here with our NHL free agency live blog for all of the latest rumors, contract details and more throughout Saturday.

12:15 p.m.: We have updates on Ryan O’Reilly, Connor Brown and more.

12:05 p.m.: Here are the latest updates just a few minutes into free agency.

Noon: NHL free agency is underway.

11:52 a.m.: Alex Killorn is headed to the UFA market.

11:51 a.m.: Blake Wheeler is a name to keep an eye on.

11:38 a.m.: Here are some more updates.

11:24 a.m.: Alex Killorn is one of the top centers who could be available.

11:19 a.m.: A two-time 40-goal scorer could be traded today.

10:55 a.m.: It looks like the Eastern Conference champion Florida Panthers are adding defenseman Oliver Ekman-Larsson, who was bought out by the Vancouver Canucks last month.

10:20 a.m. ET: Let’s start off with a roundup of news items and rumors from Friday night and early Saturday morning.