The NHL has until Wednesday to decide whether or not to accept Ilya Kovalchuk's 15 year $100 million contract. This will require the Devils to shed a bit more than $3 million in salaries.
In order to shed these salaries Lou Lamoriello apparently has some deals in place. This makes perfect sense as Lamoriello is not one to just wing it.
Tim Kennedy is still looking for an NHL contract. Five teams have shown an interest though it is unconfirmed who it is right now. The early guesses are the Toronto Maple Leafs (always in the rumours), Los Angeles Kings, Columbus Blue Jackets, Phoenix Coyotes, and Atlanta Thrashers.
Paul Krepelka has denied wanting an offer sheet for Marc Staal. With that in mind, I don't think he would mind one as it would help sell his client.
Apparently, last year the Edmonton Oilers had a deal in place that would have sent the Philadelphia Flyers Sheldon Souray for Scott Hartnell. Hartnell had waived his NMC but the deal died for reasons unknown.
GM Steve Tambellini has stated he will meet with recently convicted goaltender Nikolai Khabibulin and his agent soon. There are parts of his contract that say conducts unbecoming a team will let them which could void the contract, but the Oilers were not talking about that. I would suggest the Oilers to void it as it has been a bad contract from the start.