VANCOUVER

The ball is in Chris Phillips' court.

It's believed the Senators have tabled an offer to Phillips on a contract extension and he'll have to decide in the next couple of days whether he wants to take the deal to remain with the club.

With a cap hit of $3.083 million this season, the 35-year-old Phillips will be a UFA on July 1. He has expressed a desire to remain with the club but it's believed he'll have to accept a pay cut.

It's not known what term Phillips was offered but the two sides haven't had any discussions in the last couple of days.

The Senators want to keep Phillips in the fold because he's been a good soldier for the organization, has helped shepherd the club through rough waters and can still contribute on the ice.

But if Phillips doesn't accept the extension -- and he is negotiating this contract himself -- then he could be dealt by Wednesday's 3 p.m. EST trade deadline because the club will check to see what it can get in return.

Not signing doesn't mean he's 100% gone but it certainly increases the chances if the Senators are able to get an offer enticing enough to make a deal.

More than one team has expressed an interest in Phillips -- including the Boston Bruins -- but if his name goes to market then you'd have to think GM Bryan Murray would get several calls.

Murray has been working the phones regularly with the deadline fast approaching. He hasn't been able to find any fits but has shown an interest in Buffalo Sabres winger Chris Stewart.

He was acquired from the Blues in the deal that sent Ryan Miller and Steve Ott to St. Louis. Three teams have shown interest in Stewart but it's believed Buffalo GM Tim Murray is demanding high end prospects from the Senators.

If that's the case a deal won't get done, but Tim Murray lowers his expectations then there is a chance he could make a deal with the Senators because he does know the players in the organization.

The next few days should be interesting.

Twitter: @sungarrioch