On Tuesday night, the Vancouver Canucks traded defenseman Christian Ehrhoff's rights to the New York Islanders for a fourth-round draft pick. New York felt as though the risk of giving up a pick was worth it in order to try and sign the defenseman, but talks between the two sides quickly blew up on Wednesday.
According to Katie Strang of Newsday, Ehrhoff turned down an offer that was worth more than what the Canucks had previously offered Ehrhoff (a five-year, $23 million deal). As a result, the Islanders realized they weren't going to be able to sign him and traded his negotiating rights to the Buffalo Sabres. New York received a fourth-round pick in the deal, meaning they got back what they originally gave up on Tuesday.
The Sabres now have until Friday to get a deal ironed out with Ehrhoff. If they can't come to terms with the German defenseman, Ehrhoff will hit the open market, giving a team like the Red Wings a chance to sign him. Rumors earlier on Wednesday suggested that the Red Wings would like to fill Brian Rafalski's spot on the roster with Ehrhoff, but that can only happen if Ehrhoff actually becomes a free agent.
Personally I think the Sabres have a much better chance to sign Ehrhoff than the Islanders. The Islanders are not exactly a team high on the list of free agents, but Buffalo is a much different situation. I would not be surprised if the Sabres are able to lock him down before free agency begins.