According to Arthur Staple of Newsday Wade Redden is planning on coming to training camp with the New York Rangers in September. Redden has no chance to make the Rangers this year both in terms of defensive quality and because they cannot afford to carry his $6.5 million in salary. Some were hopeful that his desire to try and play in the NHL again after a year in the AHL would have Redden walk away from his remaining three years, but that does not appear to be happening. It is still possible that he could reject the demotion to the minors during camp, but I would not think that as highly probable given that Redden has $16.5 in guaranteed money due to him over the next three years ($6.5, $5, $5).
The news does nothing to the Rangers in a tangible sense as the 10% summer overage allows them to carry the $6.5 million easily with the salary cap at $64.3 million for next season. If Redden does accept the demotion again this year it does mean though that the Rangers could possibly have to go through this again the next two summers and there is no telling where the cap will be then.
While Redden was heavily criticized for his play in New York, one must equally praise the professionalism he displayed in the AHL last season. He could have taken the demotion and done the bare minimum to collect his check and go home, but Redden took on a mentoring role with all the Rangers young defensive prospects and because of that will have a long-term impact on the organization that goes well beyond what he ever did in Rangers uniform.