NHL free agency live updates: Who has signed deals on first day?

NHL general managers enter the free agent signing period on Monday with a little more money to spend.

After years of a mostly flat salary cap due to the COVID pandemic, it's going up from $83.5 million to $88 million. But the number of free agents is also larger because many players had signed one-year deals last summer in hopes of landing a bigger contract this offseason.

Two of the bigger names, forward Jake Guentzel and defenseman Chris Tanev, had their rights traded during the weekend, giving the Tampa Bay Lightning and Toronto Maple Leafs, respectively, more time to negotiate. Guentzel signed a seven-year, $63 million contract, Tampa Bay announced Monday.

Teams can also negotiate extensions for players entering the final years of their contracts:

Here's what happened during the opening day of free agency:

NHL FREE AGENCY: Top 25 free agents

When does NHL free agency open?

The official kickoff is at noon ET on Monday, July 1.

Who are some of the bigger names?

Longtime Tampa Bay Lightning captain Steven Stamkos is an unrestricted free agent. So are 57-goal scorer Sam Reinhart (who re-signed Monday), Brandon Montour, Vladimir Tarasenko, Oliver Ekman-Larsson and others from the Stanley Cup champion Florida Panthers. A bunch of players from the runner-up Edmonton Oilers, plus 2023 playoff MVP Jonathan Marchessault of the Vegas Golden Knights are also free agents.

Max Domi re-signs with Maple Leafs

Pending free agent forward Max Domi received a four-year, $15 million contract Sunday to stay with the Toronto Maple Leafs. He had been on one-year deals his last contracts, but the gritty forward spent time on Auston Matthews' line this past season and earned a longer term this time.

Patrick Kane re-signs with Red Wings

Patrick Kane, who signed a one-year deal with the Red Wings last season after hip-resurfacing surgery, got another one-year deal on Sunday. It's worth $4 million, with another $2.5 million in potential bonuses, according to the Detroit Free Press, part of the USA TODAY Network. He showed he has recovered well from the surgery, averaging nearly a point a game. He is a three-time Stanley Cup winner with the Chicago Blackhawks.