The Detroit native has spent his entire career with the Predators, since being drafted second-overall by the team in the 1998 NHL Entry Draft.
It's unclear if Predators GM David Poile has engaged in serious contract negotiations with Legwand's agent, Pat Morris, since the New Year, but if the team cannot make any ground in the playoff race, it's possible Legwand could be on the move.
The Predators currently sit eight points back of a playoff spot in the Western Conference, and have just four wins in their last 10 games.
Legwand owns a no-trade clause and would have a say in where he ends up, if the team decides to trade him.
According to multiple league sources, several teams have contacted Poile about Legwand's availability.
The Predators traded veteran defenseman Kevin Klein on Jan. 22 to the New York Rangers in exchange for young defenseman Michael Del Zotto. It's believed that if the Preds move Legwand, they would want a top young prospect as part of a package for him.
In 54 games with the Predators so far this season, Legwand leads the team in assists (27) and points (36).