The price tag, however, is steep, as Colorado GM Greg Sherman is asking for a top-six forward and a top prospect in exchange for O'Reilly.
It's unclear how serious talks between the Sabres and Avs have gotten, and it's uncertain what Buffalo GM Darcy Regier is willing to give up, however he does not appear interested in parting with the likes of Mikhail Grigorenko, Cody Hodgson or Tyler Ennis, while though Marcus Foligno could be someone Colorado takes a look at.
The Sabres, currently 12th in the Eastern Conference, would like to upgrade their roster, as Regier has been shopping for a top-six forward since the season started.
Several other teams, though, are also eyeing O'Reilly, including the Toronto Maple Leafs, Florida Panthers, New York Islanders, Philadelphia Flyers and Winnipeg Jets.
O'Reilly is looking for a five-year contract worth around $5 million per season.