Update (4:02 PM): Custance clarifies the waiver situation. So the Sharks, for example, wouldn’t get preference on a second waiver go-around because they put in a claim the first time around. They’d have a chance at him just because they want him at all. - Matt

Update (3:37 PM): NYI beat writer @KatieStrangNYI is all over this. She’s got a couple updates that provide insights into the Islander’s plans for going forward here and here.

Also, sounds like Nabokov’s in no hurry to get in touch with the Islanders. I’m liking him more and more. - Matt

Update (3:21 PM): Kenny’s moved on. - Matt

Update (3:11 PM): Supposedly, the Sharks put in a claim. So if the Islanders do waive him again, the Wings would still not get a shot at him, even if the Sharks are the only team that had put in a claim.

Unless. But somebody with space and priority over Detroit is going to want him. – Matt

Update (3:02 PM): Okay, I guess I’m wrong that he’s automatically done with the NHL this year. TSN reports the Islanders can suspend him or waive him, which means he could go back into circulation should the Islanders decide they’re okay with that.

They might as well suspend him, though. Why let another team get him?

But… loop re-opened. - Matt

Update (2:48 PM): Closing the loop: Nabokov reportedly will not report to NYI (also reported here), which means he’s out of the NHL through the end of the year and nobody gets him.

If he’d reported but immediately demanded a trade move, he would have gone to waivers again and been claimed by the next team in line behind the Islanders, but apparently, that’s not happening.

He wanted to play for Detroit, apparently. Shocker. (I guess it’s just as likely that he wanted to play for another contender, but I’m going to go with he wanted to play for Detroit most of all). - Matt

Update (12:10 PM): George with a couple of good points here and here.

Moving on. - Matt

Update (12:09 PM): Now the question is whether or not he’ll report. Regardless, he’s out of the Wings’ reach now and I find myself not caring about that question.

How stupid. - Matt

Update (12:06 PM): Yep, Wings bitten by one of the dumbest rules in the game. Ah well.

As as Jimmy doesn’t get hurt, it’s no big deal. But it’s a thin line to Joey MacDonald Town, eh? – Matt

Update (12:05 PM): McKenzie confirms, as does a NYI beat writer. - Matt

Craig Custance had it out there first. That sucks. Wings don’t get their insurance.

Or at least he’s pretty sure he has. In short, any scenario like discussed earlier (pick-up, then re-waive) involving the Devils or any other team, is very unlikely, as the Wings apparently would not end up at the head of the line on a second waiver go around, as was reported throughout the day.

The Wings are just too high in the standings to have a realistic shot at Nabokov, which most likely makes the whole thing a relatively cost-free, but lost, gamble on Holland’s part (relative in that Nabokov could end up somewhere that hurts the Wings, and they don’t get the insurance they might have gotten with a more sure-fire method such as a trade).

Update (11:53 PM): It just dawned on me that Khan was wrong about the frills. The no-movement clause is clear evidence that perhaps the Wings really do want Nabokov. That’s a bit of a blow against the favor theory, because it means he’s that much less attractive as an acquisition on the wire. A free and clear Nabokov was one thing. A Nabokov you can’t move under any circumstances short of a waived NMC is another, even if it’s just for the remainder of the season. - Matt

Update (10:52 PM): McKenzie confirms the NMC. - Matt

Update (10:49 PM): Okay, notes from the FS D discussion:

Deal was signed a couple of hours ago. Cheap deal, less than $1 million (but no specific number. Must be the $570,000 or so, though). FS D thinks LA might take a shot at him.

It has nothing to do with Osgood not coming back. It has to do with insurance with risk of Jimmy injury, said Ken Daniels.

Nabokov cannot go to the AHL, says Daniels, because he’s signed after Dec. 1. And Daniels also mentioned a no-movement clause, which he and Mick later confirm when they say he can’t be traded down the line. So between the rule about demotions related to December 1st, and the NMC, Nabokov’s a Wing for the duration of this contract. That means when everybody’s healthy, they’ll carry three goalies into the playoffs, as Ken and Mick said. If he clears waivers, of course.

Given the roster size limitation, though, somebody’s going to have to be on the LTIR through the end of the regular season (my analysis) - Matt

Update (10:34 PM): Just kidding. Brain-cramped on that Shannon tweet. He goes on waivers tomorrow at noon, has until noon Saturday to clear. - Matt

Update (10:33 PM): John Shannon confirms what I was thinking but wasn’t sure about: because the deal was finalized before midnight, he has until noon tomorrow to clear waivers. – Matt

News broken by the official Twitter account. Now he heads to waivers.

More to come, as FS D fills us in in a coming segment.

Update (10:05 PM): Seriously shutting up on this post after this last loop: Shoalts chimes in with this:

Just saw Nabokov’s agent Don Meehan. He said all the remains to be done on deal with Detroit is contract language. Then waivers, of course.

And follows up with the obvious (what assurance could he offer?). But interesting that it’s all but done. Next Nabokov-related news gets its own post. Promise. - Matt

Update (9:08 PM): Okay, I lied. One more thought. If Nabokov somehow does clear, his cap hit is such that the Wings would have just enough room even if fully healthy. That means no one would have to stay on LTIR or get dumped for cap reasons. But they’d be a man over the roster limit of 23 at that point, so someone would have to be the odd man out.

Given the likelihood that Osgood won’t be able to step right back in at the 8th week, I’d say he would be a possible option there, if Nabokov himself isn’t. And Modano, though he’s seeing progress, is next in line, given the nature of his injury. All speculation of course. And all dependent on the Wings winning the dice roll, if in fact they’re actually looking to get Nabokov and not setting him up for someone else. - Matt

Update (8:03): Final word for this post: Mickey Redmond said on FS D just now that the Wings are looking for insurance in net, with Osgood out long-term (as in the 6-8 weeks). He called it a longshot, given the waivers, but basically characterized it as a dice roll by the Wings. - Matt

Update (6:44 PM): More on the favor storyline in the comments in response to Andre’s question. – Matt

Update (6:18 PM): Khan all but confirms George’s favor storyline. He reports that the Wings are just talking about a deal for the remainder of the year, no NTC/NMC, nothing. Just a $570,000 cap hit, which all but guarantees he’ll be picked up off the waiver wire.

And if George is right, Holland will be on the phone to whatever GM makes the claim within minutes of it happening, saying something along the lines of, “Let’s talk at the Draft, or the trade deadline.” (4:30 PM update here) Seems like a lot for a mere chance at a pick, but Ken Holland’s the best in the business because he doesn’t pass up on chances for improving the organization.

I’m dialing back the Osgood Career End Alarm that you didn’t know I had running today. - Matt

Update (5:19 PM): Current chatter on Twitter is building off George’s suggestion that it could be a favor to somebody, knowing that Nabokov’s likely to be picked up. @Lolabythebay’s wondering if it’s not a favor to Don Meehan, his agent, who also represents a few Red Wings. Could  be. - Matt

Update (4:38 PM): Dreger’s got some prospective contract details:

Deal still isn’t done, but $570,000 for the rest of the year is what I’m told. Pro-rated to about $250,000.

Then opines in his next tweet that a rate like that would make it hard to believe he wouldn’t be taken off waivers. Yep. Unless Kenny’s got some other trick up his sleeve, it would seem so. Which makes this whole thing really weird. - Matt

Update (3:25 PM): Khan’s post-practice gameday post has more on Nabokov, including much usage of “surely.” But yeah, he’s probably right there. - Matt

Update (2:23 PM): Rounding out the Big Three of Detroit media, George Sipple has weighed in. He does have comments from Holland, and frames the Nabokov question with how it will effect Osgood. He also has a comment from Howard, whose use of “for the most part” is mildly interesting. - Matt

Update (2:19 PM): Earlier, I emailed Khan about this, and in his response, he speculates that the team may be unsure about Osgood’s effectiveness when he comes back from the surgery. Just speculation on his part, but interesting.

Also, Ted Kulfan chimes in with a popular alternate opinion (but, interestingly, no comment from Holland): that this is just a short-term effort to shore up the goaltending in case Jimmy goes down. In essence, the Wings have been shaken by the injury bug and want to be ready for all eventualities. Makes sense. I hope that’s all it is, though Nabokov seems like overkill in some ways.

And George’s take on the situation (welcome back, brother). - Matt

Update (1:50 PM): Khan finally chimes in, with confirmation of interest and contract talks from Holland. They also cover Osgood, and Holland claims he’s still on schedule to return. However, earlier in Khan’s report, Holland won’t discuss why the team is interested in Nabokov yet, and maintaining the story on Oz could be part of that. For what it’s worth, Holland doesn’t go so far as to call the talks close. - Matt

Update (1:45 PM): More from Trevor Thompson, with a quote from Babcock (essentially “no comment.”). But he’s on it. Meanwhile, the Detroit News regurgitated the TSN report, with their idea of added value apparently consisting of providing background on Nabokov.

Also, the official site has posted an NHL.com report on the rumored move. Nothing new in there, and not any kind of official confirmation from the team.

And good point from Tom Leyden. But what does he mean by Osgood’s return is uncertain? Interesting. - Matt

Update (1:15 PM): Last one for a bit: Custance confirms the reports that the Wings are in talks with Nabokov, and McKenzie calls them close. - Matt

Update (1:08 PM): John Shannon says the deal isn’t done, but is being discussed, specifically about how to prevent a waiver pickup. LeBrun and Dreger confirm.

What they could do to prevent a pickup is increase the price or the years. There isn’t a lot of space down the line for a bigger contract, but years are possible. - Matt

Update (12:54 PM): For what it’s worth, Trevor Thompson reported a few minutes ago that Jimmy is starting tonight. So, if his information isn’t outdated, it would appear Jimmy isn’t hurt any worse than we thought, which makes the Nabokov move one of two things: 1) the Wings recognize that they need to get MacDonald back to GR because the McCollum finger injury has the Griffins down to one goalie, 2) Osgood’s done, for the year at least. Or both. Or neither. We need more information.

But it makes a lot more sense cap-wise if it’s about Osgood. His being on LTIR through April would give the team the room they need without having to make any when everyone else is healthy.

Regardless, the odds of Nabokov being claimed by another team, if in fact he’s signed by the Wings and headed there, are pretty good. - Matt

Update (12:36 PM): McKenzie says not yet. - Matt

So says Renaud Lavoie of RDS. Stay tuned.