According to Blue Notes:
Arbitrator Elliot Shiftman who heard the arguments from each side at a hearing on Friday in Toronto, decided on the award today. Zherdev had sought upwards of $4 million.Although I do not think that Zherdev is worth the almost $4M contract that he has been awarded, I am not in the least bit surprised that is what the arbitrator decided. On Friday, before the hearing we had listed the salaries of comparable players to Zherdev and I felt that the arbitrator would decide somewhere in the middle between what Zherdev was asking for and what the Rangers were offering him. It's been rumored that Zherdev was seeking $4.5M/yr and if that's true then this arbitration award would be right in the middle between that amount and the $3.25M that the Rangers had offered.
The Rangers had no immediate comment, and will have 48 hours to decide to accept the contract. If they reject the award, Zhederv, 24, who scored 58 points last season, can declare himself a free agent.
We'll just have to wait and see what the Rangers decide to do - let Zherdev become a UFA, sign him and keep him or sign him and trade him. At this point keeping Zherdev seems unlikely, with not much cap room, the need to complete their defensive core for next season and the need to re-sign RFA Brandon Dubinsky.
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