So not really "news", but today Luongo while speaking to the press said this about his contract:
"We're trying to get it done before camp," "If it doesn't happen before camp, I will not be negotiating during the season. I don't want to have that distraction," -from TSN.
So that puts a deadline of September 13th for the contract negotiations. Personally if its gonna happen I think it will be announced just at the beginning of the season. PR-wise there's not point to announce it now while we are still about a month away from the start of the season. Instead they will want to have a nice big press conference in September to announce the contract and get the hype going again about the Canucks.