The only logical choices I can see are us, the Preds, and the Blue Jackets. Marleau has to agree to a trade to one of those teams. From a Salary Cap perspective, a Frolov for Marleau deal is as close to the perfect trade for both sides that's possible. Columbus and Nashville can both absorb his salary without sending anyone else back. Dallas also appears to have the cap room to take him on.
If they waive him right before the season starts, then its the draft order from last summer, and we're the first logical team to take him, Toronto and Dallas the next 2 in that order. Dallas has the cap room, Toronto does not.