Lecavalier, 33, is Tampa Bay's all-time leader in games played (1,037), goals (383), powerplay goals (112) and game-winning goals (60).
He will officially become an unrestricted free agent July 5 and several teams, including the Detroit Red Wings, will be contacting his agent, Kent Hughes, to pitch an offer.
Lecavalier, a natural center who can also play the right wing, would be a great addition to the Red Wings, who are looking to bolster their roster this summer and add at least one top-six forward and a top-four defenseman.
Red Wings GM Ken Holland is active on the trade front, willing to trade multiple forwards in exchange for one.
In a conference call with the media this afternoon, Lecavalier indicated that his preference is to sign a longer-term contract with a team, likely in the four-to-five year range. According to multiple team executives and hockey figureheads, Lecavalier could earn between $3 million and $5 million per season on a new deal, depending on term.
With roughly $11 million in salary cap space, the Red Wings are expected to clear by way of trades and potential buyouts, as the club is considering buying out the contracts of forward Mikael Samuelsson and defenseman Carlo Colaiacovo.
Lecavalier also admitted that the Red Wings were one of his favorite teams growing up.
"If you just think about the Detroit Red Wings, it's actually a team I grew up idolizing," he said. "Them and Montreal were my favorite teams."
The Canadiens are also expected to pursue Lecavalier next month, while the Chicago Blackhawks, Dallas Stars, New York Rangers, Vancouver Canucks, Calgary Flames, Buffalo Sabres, Ottawa Senators, Toronto Maple Leafs and Washington Capitals are all expected to make inquiries.