The Flyers are expected to pursue a winger, most likely on the left side, to play on Claude Giroux's line next season.
With limited options available in the free agent market, the Flyers could be more inclined to go the trade route.
Pending unrestricted free agents Mike Cammalleri, Matt Moulson, Thomas Vanek, Milan Michalek and Mason Raymond could be options for Hextall.
Vanek, however, has been long-rumored to be set on joining the Minnesota Wild, who is expected to pursue him this July, as well.
The Flyers have expressed interest in Winnipeg Jets left wing Evander Kane for the past two seasons and are expected to inquire again this off-season.
The San Jose Sharks, as TFP reported earlier this week, appear willing to entertain calls for left wing Patrick Marleau, among others, and he could also catch the attention of the Flyers.
Marleau, 34, owns a no-movement clause and would have to approve any deal the Sharks try to make. He met with San Jose last Friday to discuss his future with the organization.