Update: Here is the press release from the Rangers website.
Reports are stating that the Rangers have not accepted the arbitration ruling on Nikolai Zherdev, and thus, he is an unrestricted free agent.
…Thus ending the great Nikolai Zherdev era in New York. If only we could make it so that the Fedor Tyutin era never ended.
…In the end though I feel a little conflicted. I loved the move when they made it and thought that the Rangers were getting a star entering his prime, and while Zherdev was very productive for parts of last season, he was lost just as much. At the time it looked like a fair trade, a quality young defenseman for a quality but enigmatic scorer. Now, the deal looks very one-sided towards Columbus as they made out with a top defenseman that the Rangers clearly lack and miss.