From the sounds of it, all that smoke surrounding a potential Ryan O'Reilly trade by the Colorado Avalanche prior to the deadline this season was being given off by a pretty significant fire.

O'Reilly, one of the best full-ice centers in the entire NHL, reportedly remains on the trade block and the Avalanche brass have a specific return in mind for the rights to his soon-to-be-expensive services.

"Colorado Avalanche center Ryan O'Reilly is on the trading block, Sportsnet reported Saturday," via NHL.com.

"Avalanche general manager Joe Sakic is believed to be asking for at least a 'significant defenseman' in exchange for O'Reilly, Elliotte Freidman reported."

It's difficult to envision the Avalanche giving up on the 2014 Lady Byng-winner, whose 200-foot game rivals that of any other player, let alone center, in the league, but with O'Reilly having just finished the first year of a two-year bridge deal that pays him $6 million per season - a deal that reportedly was not easy to hammer out - and likely looking to cash in on a long-term extension sometime in the near future, Sakic and head coach Patrick Roy may really have little in the way of other options.

With Roy's group having finished 22nd in the league in goals allowed per game, averaging 2.72 markers per contest, it's clear where the deficiencies in the Avalanche lineup lie. The backend has been a trouble spot for them, even since their magical, Central Division-winning, 2013-14 season.

Sakic though, did say in April that he wanted O'Reilly signed to a contract extension.

"We like Ryan a lot; he's very valuable, he's one of our core guys," Sakic said. "He doesn't need it, we don't need it, no one needs the distractions of him going through the season (as a pending unrestricted free agent), so we're going to try to get it done."

That could have simply been posturing on Sakic's part, but it also could be an indication that exploratory negotiations gave the Colorado GM a negative indication of the likely direction of contract talks meaning O'Reilly no longer looks to be a part of the Avalanche's future.