The Winnipeg Jets aren't planning to make the same mistake twice.

General manager Kevin Cheveldayoff indicated Thursday the Jets, more likely than not, will either retain captain Andrew Ladd, or move him before the Feb. 29 NHL trade deadline.

"We did that last year with Michael Frolik," Cheveldayoff told Sportsnet's "Hockey Central at Noon."

"There's probably either a (contract extension) to be had or a trade to be made, but again, we'll look at all those situations as they present themselves."

Frolik bolted for a lucrative long-term contract with the Calgary Flames after a productive two-year tenure in Winnipeg ended with a fruitless showing in a first-round defeat at the hands of the Anaheim Ducks.

Ladd has followed up his career season with a disappointing 30 points in 53 games in 2015-16. He's unlikely to net a long-term pact close to the whopping five-year extension teammate Dustin Byfuglien jumped at earlier this month after reportedly turning down a significant investment over the summer.

Cheveldayoff has 2 1/2 weeks to iron out a resolution.