Per Bob McKenzie on Twitter, "Nylander heading to Russia."
Update (12:24 PM): "Nylander makes the final call on whether he's going to Russia but it looks like he's prepared to do it. Not formalized just yet, though." - @TSNBobMcKenzie
(12:48 PM): "And since this Russian thing looked like it was going to get done a time or two before and didn't, we better wait for official confirmation." - @TSNBobMcKenzie
(1:17 PM): "[A] team official said it looks like there WON'T be an update on Michael Nylander's status today." - @cmasisak22
(1:49 PM): "Caps forward Mikael [sic] Nylander looks as though he's headed to Russia. The 37-year-old cleared waivers yesterday and, with his permission, he can now be assigned to a KHL team. That paperwork is still being finalized so the move is not yet official." - TSN
(1:50 PM): "An overseas move now seems imminent for former Washington Capital Center Michael Nylander. The 37-year old is reportedly weighing an offer from Dynamo Minsk of Russia's Kontinental Hockey League." - CSN Washington
More details to follow.