Given Drouin's young status in the NHL -- he was sent down to the AHL on Saturday -- the Lightning are not backed up against a wall and technically do not need to trade him.
However, given the value Drouin brings, being the third-overall selection in the 2013 NHL Draft, the Bolts are expected to move him this season.
According to the New York Post, the Rangers are "in big-time on this," a source told the paper, and the two sides have been engaged in trade talks as of Wednesday of last week.
It's unclear what Tampa Bay's asking price is, but the Post suggests the Rangers could move defenseman Keith Yandle as part of a trade for Drouin.
Yandle, however, is in the final-year of his contract and can become an unrestricted free agent July 1. It's not known if the Bolts are willing to move Drouin for a potential rental player, but it would seem unlikely.
Several other teams have expressed interest in Drouin, with the Columbus Blue Jackets, Montreal Canadiens and Anaheim Ducks reportedly among them.