Sounds like Nabokov had a few options on the table:
1. Extend with Magnitogorsk who he's been with since he was 14 years old.
2. Accept a trade to the giant SKA and sign a new, fat deal.
3. Sign a letter of intent to join the Avalanche on an ELC at the end of this KHL season.
He chose the latter and didn't succumb to the pressure of options #1 and #2.
#2 probably would have come with term, and put his immediate NHL future in doubt.
If he comes over, even to start in the AHL, he may still be able to play for an Avalanche Cup team. Perhaps as backup or starter if he beats out Blackwood.
Wedgewood only has next year on the books, so that gives him a spot to earn. Maybe even next year if Wedge sees a drop in play, or there's injuries.