Legwand would have to approve any deal the Predators try to make. According to the source, he has not submitted a list of teams he would not accept a trade to.
The 33-year-old Legwand is in the final year of a six-year, $27 million contract and is scheduled to become an unrestricted free agent July 1.
It had been widely speculated that Legwand would be on the move, as the Predators are looking to bring in some assets in the event he walks this summer as a free agent.
If the Predators inch closer to a trade and receive an offer they are interested in, management is expected to approach Legwand at some point today about waiving his no-trade clause.
In 61 games with the Predators so far this season, Legwand has collected 10 goals and 30 assists for 40 points.