From Scotty Hockey:
Talking to Z is a lot more reasonable than, say, handing a six year deal to an underachieving 31 year old defenseman who was ran out of his last city. But the only thing that mercurial Zherdev has proven thus far in his tenure as a Ranger is that he is unreliable. To hand a player like that a long term deal is simply dangerous. Yes, Z could turn into a game-breaking skill forward like Ilya Kovalchuk. He could also get bored of the NHL in a year or two and run home like Alexei Morozov.
The rest is here.