Phoenix Coyotes' General Manager Don Maloney announced today that Blake Wheeler, selected by the Coyotes in the 2004 Entry Draft, has rejected the Coyotes' contract offer and will become an unrestricted free agent. ?We offered Blake a contract which was both commensurate with his draft position and far exceeded any guaranteed contract he can receive, under the current CBA, with any other team,? said Maloney. ?He has decided, however, that becoming a free agent is in his best interest." ?We are very happy with the compensatory pick we will receive for Blake not signing, which will be the fifth pick in the second round. This is a very deep draft, and we now have five picks in the first two rounds, which is very exciting.? Under terms of the Collective Bargaining Agreement, any player who does not remain a college player through the graduation of his applicable class (in this case 2009), must submit a letter stating his intention to turn professional. Upon submission of that letter, the drafting club shall have 30 days to sign the player. If the player and team cannot reach an agreement within that 30 day period, the player becomes a free agent. Wheeler submitted his letter of intent to turn professional on May 8.

The Philadelphia Flyers aren't wasting any time this offseason as they aim to re-sign free agents like Jeff Carter and R.J. Umberger as soon as possible, according to The Associated Press. The team went from the worst in the NHL last season to the Eastern Conference Finals in less than a year. "It's encouraging to see the point we've gotten to, but I think it's also important to realize there's a lot of work to be done to close the gap on the teams that are ahead of us," Flyers coach John Stevens said. The team would like to sign key free agents such as Carter and Umberger, while extending the deals of goalie Martin Biron and coach Stevens.

The Stars will sign free-agent winger Fabian Brunnstrom to a two-year contract as soon as Friday, according to The Dallas Morning News. Brunnstrom has been pursued by as many as 20 NHL teams after he initially made his decision to jump to the league. "Les Jackson did a very good job of presenting the positives of the organization, and Fabian really felt this was the right fit for him," agent J.P. Barry said of the Stars' co-general manager.

Jaromir Jagr admitted on Tuesday that he would prefer to remain in New York with the Rangers, while teammate Brendan Shanahan remains unsure about his future, according to the Associated Press. "I don't have 30 teams to choose from," Jagr said. "First, I am going to talk to the Rangers. That's the number one option for me. "They gave me a chance to show everybody I still can play hockey. Everybody doubted me when I was playing in Washington for whatever reason," he added. Shanahan has a tougher decision to make as he will be 40 by the start of next season. "The first thing you have to decide is can you, are you physically able to?" he said. "That part to me has been answered. As disappointing as it has been for all of us ... it's a decision that I am going to make. It's not something that I have already decided."