Sakic retired after the 2008-09 season after playing 1,378 regular-season games, winning two Stanley Cups and an Olympic gold medal in 2002.
Even though Sakic isn't formally a part of the Avalanche front office, the sure-fire Hall of Famer was invited to the meetings by Colorado Avalanche president Pierre Lacroix to get a taste of what might be a future calling.
"It's great because I want to learn," Sakic told ESPN.com. "The more I can hear, the more I can learn, the better off I'll be. I was very lucky that Pierre asked me to come and join them. It's a great opportunity for me."
Sakic has seen contemporaries like Steve Yzerman (now the GM of the Tampa Bay Lightning), Cam Neely (president of the Boston Bruins), Al MacInnis (the vice president of hockey operations for the St. Louis Blues) and Luc Robitaille (president of business operations for the Los Angeles Kings) move from Hall of Fame careers to significant management roles.
He isn't there yet, content for now to spend his days with his family. But some day, perhaps.
"I don't have a role [with the Avalanche]. I mean, my role is to be around and to learn about the game, once in awhile come down to the rink," Sakic said. "But I'm still in that mode where I'm with my kids, my wife, my family, and it's nice being home and doing all that.
"But in the meantime ... [I'm] learning the business side of the game so that eventually if it's something I get into, I want to already have that knowledge rather than learning on the fly."
More from Day 1 of the BOG meetings
Among the topics discussed by the board of governors Monday was the possibility that the salary cap could go up for the sixth straight season, as much as $3 million. The current salary cap is $59.4 million.
NHL commissioner Gary Bettman was expected to further address the issue Tuesday during Day 2 of the meetings.
"There were very preliminary projections, league revenue forecast information," NHL deputy commissioner Bill Daly said. "You build in a whole bunch of assumptions and variables and you try to give them a sense of where that might be."
A lot can change between now and next season, though, Daly cautioned.
"It depends on the variables," Daly added. "We use as much information as we have and we try and make reasonable projections. There are things like, whether the union wants to invoke a five-percent inflator, that comes into play; the value of the Canadian currency and where that goes for the rest of the year comes into play. Obviously the accuracy of the projections themselves -- what the clubs are experiencing in their revenues, what we're experiencing in our revenues -- they all come into play. I think for the most part, based on the information we have, they've been reasonable projections."