The 21-year-old, who posted 18 goals and 37 assists for 55 points in 81 games last year, could be expecting a similar deal as teammate Matt Duchene, who walked away with a two-year, $7 million contract at the beginning of the off-season.
The Post doubts that the forward could be asking more and wonders why Avs GM Greg Sherman is not taking this opportunity to sign a talented young player and reach the current cap floor of $52.2 million.
The team is still about $141,000 under the cap floor and can easily manage to take on O'Reilly's new contract.
Other teams could look to land the center by signing him to a significant offer sheet, which the Avalanche would have to match, according to the Post.
O'Reilly has become one of the young faces of the franchise and many fans would hate to see him go because the Avalanche waited too long to sign him to an extension.
