Based on his reported asking price, that remains the most likely outcome.
Doan will be looking for a four-year, $30 million contract to leave the only franchise he's ever been a part of, according to David Shoalts of The Globe and Mail. Shoalts thinks those numbers will likely cause a lot of teams to drop out of the sweepstakes.
That's no surprise. If the report is true, it almost seems like Doan would be making those demands with the hope that teams would back off. It's an insane asking price for a player who will turn 36 before the start of next season.
Doan has been a very good NHL player for an extended period of time. He's actually been underrated for most of his career because he's been stuck playing in Phoenix, which isn't exactly known for being a hockey hotbed.
That said, his production has already started to drop. He scored just 50 points last season for the Coyotes, marking his lowest total in a decade. And once a player begins to trend in that direction late in his career, it's tough to bounce back.
When the idea of Doan leaving Phoenix first arose, it seemed like he would be a nice addition. He's a tremendous leader and can still provide some offense while playing on the second line for a playoff contender.
But at the reported asking price, he would need to produce at an elite level to make it worth the investment. The chances of that happening are slim to none.
The reason Doan hasn't already re-signed with the Coyotes is the team's ongoing ownership issues. The captain was slated to get an update about the situation on Friday and then decide what action he wants to take from there.
It doesn't mean the situation is over, though. If Doan does decide to leave Phoenix, it's going to take some time to convince a team to give him such a massive deal. After all, $7.5 million right now would be pushing it, let alone when he's 39.
Ultimately, sticking with the Coyotes is probably the best thing for him. The fact he's given the team so long to sort things out before bolting shows he still has a strong connection to the franchise.
A massive contract isn't going to buy him happiness and it sure wouldn't be a wise signing for any of the interested teams.