From Larry Brooks of the NY Post:
It's not going to be easy for Sather to seal the deal now. It's not going to be easy for the GM to convince Jagr to sign a one-year contract with easily achievable bonuses that would justly make him the Blueshirts' highest-paid player while giving them the maneuverability to: A) add Sundin on the same type of over-35, one-year deal; B) retain Sean Avery ; and C) re-sign Michal Rozsival as the No. 1 defenseman.
It's not going to be easy for the Rangers to appeal to this immensely proud man, not with the clock about to strike midnight and the GM having allowed the sands to slip through the hourglass without a care in the world.
Read more from Brooks here.
It seems fairly simple, if the Rangers offer Jagr enough money on a two-year deal (or a one year deal with easily reachable bonuses), then they will be able to re-sign him.