Team has not confirmed deal with Florida just yet, but TSN is reporting it. Fair deal for Rangers.
McCabe, 35, the former Islanders d-man, waived his no-trade clause to come back to New York. He is an unrestricted free agent.
Kennedy, a center who was with the Sabres last season, was playing in the AHL. The third-rounder is for this year's draft.
Could be another deal coming. Rangers will have eight D on roster.
Kennedy, 24, had 12 goals and 40 points for Connecticut Whale.
Why is this a good price for NY? McCabe may not be the player he once was, but is a lefty, which the Rangers can use, competes and there's no long-term committment. Compare this to Tomas Kaberle deal: Prospect Joe Colborne, a 2011 1st rounder and a conditional 2nd rounder in 2012.