Sabres spokesman Michael Gilbert confirmed the move had been made on Monday, but says the team would have no comment until after the 24-hour waiver period expires.
Should Kennedy go unclaimed, the Sabres would have the choice to retain the player or buy him out at a third of his contract. Under the NHL's collective bargaining agreement, teams cannot walk away from an arbitrator's ruling lower than $1,611,180.
The move was considered curious given that the Buffalo native only made $635,000 as a rookie last season. He finished with 10 goals and 16 assists in 78 games playing mostly on the third line.