Reaves recently turned 38 and Friday's game in New York was his first game in weeks. He's become a popular figure in the dressing room, however, and Treliving did give him a three-year deal in free agency two years ago.
Plus, coach Craig Berube played a similar role late in his career and values what Reaves does.
If they need to free up some cap space painlessly, however, they could waive Reaves' $1.35 million contract and get $1.15 million in relief by demoting him to the minors. Then recall him whenever injuries hit or once the cap lifts to start the playoffs.