The veteran forward has strong ties with Jokerit in his hometown of Helsinki and is aware he could easily be added to their lineup if there is a work stoppage.
"One of my best buddies [Jarmo Kekalainen] is the GM for them," Selanne told the Register. "Let's see. I say that I want to think about it. Let's see how things go and we'll see.
"Obviously I know there's a spot for me if I want to go. Like I said, I’m still optimistic but it doesn’t look good."
Although it would be simple for Selanne to join Jokerit in the SM-liiga, for whom he played for three seasons before starting his NHL career and during the 1994-95 NHL lockout, the forward won't be committing to anything until he knows for sure that NHL games will be canceled.
"I decided I'm not going to take any options before it's official," he said. "I'm not going to go right away if there's a lockout. I think for a little while you just have to wait and see what's going to happen. But if it's going to go over a month, then a lot of players have to make a decision on what they want to do.
"I know there's a lot of teams in Europe that want players there. They're anxious to get the NHL players there."
In 82 games with the Ducks last season, Selanne posted 26 goals and 40 assists for 66 points.