UPDATE1: Hossa? Nossa.

Multiple sources are reporting that Marian Hossa has turned down a 10 year offer from the Red Wings.

From Sportsnet.ca:

Sportsnet has learned Marion Hossa has turned down a contract offer from the Red Wings that would have kept the all-star with the Red Wings for the next 10 years.

A source compared the length of the deal to the deals Johan Franzen and Henrik Zetterberg signed. It's believed the deal-breaker was the average salary which fell between $3.75 million and $4 million.

The Detroit News confirms, and also offers up some information on Darren McCarty and Aaron Downey:

General manager Ken Holland and Hossa's agent Ritch Winter talked again Tuesday but came to no agreement.

"It certainly appears that way," Holland said. "As I've said all along, we only have so much cap room. We have players that I'm not interested in losing."

Holland also said he'll talk again with the representative for Mikael Samuelsson Wednesday morning in an effort to retain Samuelsson, who is an unrestricted free agent.

Tomas Kopecky, the Wings other unrestricted free agent, will test the market and likely won't return to the Wings.

Holland also said the organization will not re-sign veteran forwards Darren McCarty and Aaron Downey.

**UPDATE (12:57 AM ET)

Craig Custance/Sporting News reports that, even though Hossa reportedly rejected the deal, negotiations will still continue:

The chances of Marian Hossa signing with the Red Wings aren't great, but it still could happen. Despite reports on the eve of free agency that Hossa had turned down an offer from the Red Wings, the possibility of a deal still exists.

An NHL source told SportingNews.com late Tuesday night that discussions between the two sides will continue.

It's not an issue of either side wanting to get a deal completed, it's a matter of finding common ground. The Red Wings would like to keep Hossa at a annual salary cap number in the $4 million range, which would be considerably less than he'd earn on the open market.

Not all that encouraging, but at this point, it's better than nothing. If you want Hossa to stick around, that is.