Per TSN's Darren Dreger, after checking in with Patrick Kane's agent, Pat Brisson, none of the chatter surrounding Kane has any legitimacy to it, as Kane is still very much pondering which route he'd like to go at this stage in his career.
There were rumours circulating recently that had Kane heavily favouring Edmonton and Colorado, which, let's be honest - if Kane does decide he'd like to move elsewhere, those are two pretty decent landing spots. The Oilers just upgraded their goaltending, signing former Leaf Jack Campbell to a 5-year, $5M deal, taking over for veteran Mike Smith, who is believed to be contemplating retirement.
As far as Colorado is concerned, they just won a Stanley Cup, and they're bringing most of the band back. They did, however, lose Darcy Kuemper, though Kuemper finished the playoffs with a .902 SV%, so it's not as though he was out there stealing games right, left and centre.
In order for either club to make a push for a player like Patrick Kane, they would have to clear significant cap space, as Kane, even at 50% retained, is still going to come in above the $5M mark.