According to multiple sources the New York Rangers and Tim Kennedy -- previously of the Buffalo Sabres -- are close to reaching a contract. As per Andrew Gross: 

AGrossRecord   #NYRangers deal with LW Tim Kennedy could be announced later today. Depth move.

Kennedy -- who is coming off his first full season in the NHL, registering 10 goals and 16 assists in 78 games -- is a 24-year-old center who can also pivot on the wing.  

Like Andrew Gross said above, this is probably a depth move for the Rangers. Kennedy, who is still very young, would probably have to truly impress in order to make the team out of camp. Expectations seem to point towards him starting the year int he AHL, but the Rangers are weak on left-wingers so you never know. 

Still, this is a surprising move. It will be interesting to see what kind of contract he gets. We'll have more for you when it comes down the pipe, till then make sure to check out Blueshirt Banter.