NHL Free Agency 2016: Live Free-Agent Updates, Trade Rumors and News

The NHL's free agent frenzy has lived up to its billing in 2016.

Even though Steven Stamkos took himself off the market two days earlier by re-signing with the Tampa Bay Lightning, plenty of other big names cashed in with lucrative long-term deals when the signing period began at noon ET on Friday.

The biggest contracts of the day were both seven-year, $42 million deals. Milan Lucic fulfilled expectations by signing on with the Edmonton Oilers for a chance to play with Connor McDavid, while Kyle Okposo joined the Buffalo Sabres after spending his entire career thus far with the New York Islanders.

Two other players will also carry new cap hits of $6 million next season—Loui Eriksson, on a six-year deal with the Vancouver Canucks and David Backes on a five-year pact with the Boston Bruins.

The most surprising news of the day might be Alexander Radulov's return to the NHL. The enigmatic Russian inked a one-year contract with the Montreal Canadiens for $5.75 million.

Some of the bigger names that have yet to be attached to new teams as of 4 p.m. ET on Friday include defensemen Jason Demers and Kris Russell and forwards Mikkel Boedker and Kris Versteeg.