The Rangers are on the verge of signing unrestricted free agent winger Alexander Frolov, a source close to the situation told ESPN.com Monday evening. The two sides were close to a deal Monday evening with the term of the contract still yet to be agreed upon by the two sides, the source said.

The Bruins and restricted free agent Blake Wheeler have apparently reached an impasse in contract negotiations and it appears that the matter will have to be solved in the winger's scheduled arbitration hearing Tuesday in Toronto. Wheeler's agent Matt Keator, e-mailing from Toronto on Monday morning, told ESPNBoston.com that Wheeler will be meeting him there later in the day to prepare for a hearing.

The Avalanche have $8 million to spend just to get the the NHL's salary cap floor of $43.8 million, according to the Denver Post. Colorado wants to sign Peter Mueller, Chris Stewart and Raffi Torres.

It is believed that the Players Association and Ilya Kovalchuk are preparing the "legal case" that would most likely involve a grievance filing by Tuesday, according to a report in the New York Post. Failing a settlement, Kovalchuk's $102 million, 17-year contract with the Devils and its rejection by the league would be submitted to an arbitrator. The league contends the contract circumvents the CBA because it extends until Kovalchuk is 44.

The Bruins and forward Blake Wheeler will discuss a new contract this weekend. The two sides have an arbitration hearing set for July 27. "We'll talk to them again this weekend and see how that goes," agent Matt Keator said. "But there's nothing new to report right now and if we can't reach an agreement this weekend, then we go to arbitration. That's fine and that's why they have the arbitration process."

Mike Modano said Tuesday that he will wait until he's had a chance to skate some in early August before making a decision on his future. Modano is still contemplating whether to play next season at age 40. The Stars told Modano earlier this offseason that they are moving on without him. Modano has talked with the Red Wings, Sharks and Wild about the possibility of playing next season.

The Flyers still have room to sign a free-agent goalie. "That $1.053 million actually includes 13 forwards and 8 defensemen. Still room to sign a goalie if that's what they want," Frank Seravalli of the Philadelphia Daily News wrote on his Twitter page.

Detroit coach Mike Babcock believes Michigan native Mike Modano will sign with the Red Wings. "This is a no-brainer for Mike Modano -- the highest scoring American player of all time to come back to your hometown, play in Hockeytown," Babcock said. "It's not about the cash, it's about the legacy and the fit. He'll fit and he'll be excited to play. I look forward to him signing. I think that's inevitable. I think that's what is going to happen."

Ilya Kovalchuk has reached an agreement to remain with the Devils. "Ilya is excited to be continuing his career with New Jersey and knows first-hand the team's dedication and commitment to winning," Jay Grossman, president of PuckAgency, which represents Kovalchuk, said in a statement. The Devils said they would have media availability with Kovalchuk on Tuesday. Kovalchuk had also entertained offers from the Los Angeles Kings and New York Islanders. SKA St. Petersburg of the KHL also pursued him. The deal is believed to be worth $100 million over 17 seasons.

Red Wings coach Mike Babcock told NHL.com on Friday that he firmly believes Michigan native Mike Modano will sign with Detroit. "This is a no brainer for Mike Modano -- the highest scoring American player of all time to come back to your hometown, play in Hockeytown," Babcock said, according to the Website. "It's not about the cash, it's about the legacy and the fit. He'll fit and he'll be excited to play. I look forward to him signing. I think that's inevitable. I think that's what is going to happen."