The Senators have studied the possibility of acquiring Ryan O’Reilly, but not at any cost.

Sources say Senators GM Bryan Murray has held talks with Colorado Avalanche GM Greg Sherman about a deal for the restricted free agent centre, however, the indications are the asking price is significantly high.

The 22-year-old O’Reilly, the last restricted free agent who remains unsigned, is demanding more than $3.5 million than Matt Duchene is making with the Avs. It should be noted O’Reilly made $900,000 last year on an entry-level deal.

O’Reilly 18 goals and 37 assists for 55 points in 81 games last season. With centre Jason Spezza gone until at least the start of the playoffs after back surgery, the Sens could use that point production.