Ohh, free agency.  The most frustrating time to be a hockey fan.  Weeks on end of biting your nails, waiting to see if your favorite players will be back, or if your team will suffer the fate of last year’s Buffalo Sabres. ( I, for one, am currently banging my head against the wall waiting for Lou Lamoriello to get his act together and sign Jay Pandolfo before the deadline. But that’s neither here nor there.)

In the week since the draft, the activity around the NHL has been typical of late June — contract buy-outs, big signings, qualifying offers, and everything in between.  With only 5 days left until the “big day”, here’s a round-up of the biggest headlines of the week.

*After a week of rumors that the Penguins were close to signing Marian Hossa, his agent announced this weekend that Hossa would be testing free agency.  Hossa is certainly going to be one of the most sought-after unrestricted free agents on the market, and will probably command over $7 million a year.

*Ottawa bought out Ray Emery’s contract, making him an unrestricted free agent on July 1st.  Given the problems he had in the locker room this year, it will be interesting to see who is willing to take a chance on him, and if the change of scenery improves his attitude.

*Los Angeles attempted to buy out Dan Cloutier’s contract as well, but because of his injury problems this season, Cloutier needs to get medical clearance before they can complete the process.

*According to Sean Avery’s agent, it seems highly unlikely Avery will be resigning with the Rangers, making him an unrestricted free agent on July 1st.  Rumored interested teams include the Kings and the Stars.

*Shea Weber signed a three year, $13.5 million contract to stay in Nashville, keeping him from being a restricted free agent.  The Predators continued to lock up the core of their team, having already signed Martin Erat, Ryan Suter, and Dan Ellis earlier in the offseason.

*Gary Roberts announced that he would not be retiring, but that he would also not be returning to Pittsburgh.  Roberts intends to test the free agent waters on July 1st, stating that he was aware of Penguins GM Ray Shero’s signing priorities.

*Barry Melrose was officially announced as Tampa Bay’s head coach. Though rumored since the end of the season, the Lightning held a press conference Tuesday afternoon announcing Melrose and the rest of his staff. The move has been heavily criticized (Melrose hasn’t been behind the bench in 13 years, instead taking his perfect mullet to ESPN as their resident NHL expert), but that’s a topic for another day.

*Mats Sundin will also be headed for free agency.  Montreal was granted the rights to speak with him before July 1st, and Bob Gainey actually flew to Sweden to meet with Sundin.  As of right now, however, it appears Sundin is going to wait and see what he can demand on the open market.

*Because losing Mats Sundin wasn’t enough of a change for the Maple Leafs, the team also bought out the contracts for Darcy Tucker, Andrew Raycroft, and Kyle Wellwood. (two links) Wellwood was picked up by the Canucks on waivers.  No one can accuse Leafs GM Cliff Fletcher of not attempting to make changes for this team.

*Vincent Lecavalier is reportedly signing a 9 year, $77 million contract (worth approximately $8.55 a year assuming he reaches the ninth season) to stay in Tampa for the rest of his career.  He would be 37 at the end of the contract.

*Joe Pavelski, Brian Boucher, and Jeremy Roenick were all resigned by the Sharks this week.  Roenick and Boucher were signed to one-year deals, Pavelski received a two-year contract.

*Contract talks between Jose Theodore and the Avalanche broke down, making Theodore one of the only true starting goalies available on the unrestricted free agency list, as Washington is reportedly close to a deal with Cristobal Huet.

*After meeting with Anaheim GM Brian Burke Thursday morning, Scott Niedermayer announced he will return for the final year of his contract. Will Teemu Selanne follow suit?

*The salary cap is being increased to $56.7 million, a $6.4 million increase from last season.

For a more detailed look at the goings on, check out the headlines over at TSN.  Check back Tuesday for all the free agency craziness!