Philadelphia Flyers Rumors: Latest Free-Agent Updates and Trade Chatter

The Flyers have been relatively quiet as expected in free agency since they have no wiggle room under the salary cap. Thus far, they did manage to re-sign backup goalie Ray Emery.

On day two of free agency, Ron Hextall was able to sign veteran defenseman Nick Schultz. He also traded depth forward Tye McGinn.

Here's a look at the Philadelphia Flyers moves thus far in free agency, beginning with the most recent.

Update: July 2, 5:45 p.m. by Brad Kurtzberg

The Flyers have signed defenseman Nick Schultz to a one-year deal. Schultz will be 32 by the time the season starts. He split last year between the Edmonton Oilers and Columbus Blue Jackets and will give the Flyers an inexpensive upgrade in their own zone.

The Flyers also traded the rights to Tye McGinn to the San Jose Sharks for a third-round pick. 

--end of update--

Update: July 1, 4:33 p.m. by Brad Kurtzberg

The Flyers have re-signed backup goalie Ray Emery. It's a one-year deal worth $1 million. Emery fit in well with Philadelphia last year. He provided experience in the locker room and had a good attitude. Many fans recall his brawl against Washington's Baden Holtby last November 1.

--End of Update--

The Philadelphia Flyers hope to add some talent in free agency this summer, but they first have to get under the salary cap. According to CapGeek, the Flyers are presently a bit more than $236,000 over the league's $69 million salary cap for 2014-15.

Since the Flyers have used both of their compliance buyouts, they will need to make a trade to create cap space. According to CSNPhilly.com's Tim Panaccio, general manager Ron Hextall was trying to trade Vincent Lecavalier to clear some room under the cap, but a proposed deal with the Nashville Predators fell through. The issue remains Lecavalier's high cap number.

The Flyers are particularly eager to unload Lecavalier before Tuesday, when they will owe him a roster bonus of $2 million.

If the Flyers are able to add free agents, they will be looking to upgrade overall team speed. Some particular areas of need include a backup goalie, some depth at the wings and, obviously, some help on defense.

This will be Hextall's first summer as general manager. It is vital for the team that he finds a way to add quality free agents without handing out some the of bad contracts that have plagued the Flyers in recent years.