UPDATE: The Rangers have officially walked away from Nik Zherdev's contract, making him an unrestricted free agent. More as it's available...
With an immediate decision expected within the hour, the scuttlebutt around people in the know (thanks to our friends at NYRNation) is that the Rangers will walk away from Nik Zherdev's $3.9 million reward, effectively making him a UFA and and ending his tenure as a New York Ranger.
More as it's available including on Twitter...