According to the Donnie and Dhali show based in Vancouver, the Flames are reluctant to hear offers from the Canucks, not wanting to make a trade within their own division.
This is obviously positive news for the Leafs, being the other team connected with interest in Zadorov. If the Flames are unwilling to move him within the division, it's increasingly likely that moving him out of the conference entirely would be far more appealing to them.
Zadorov is in the final year of a contract that pays him $3.75M annually, and at 6'6 and 248 lbs, he brings a punishing physical game and reliable defense - much needed for any playoff team, and especially the Leafs. After the team returns from their Global Series games in Sweden, it's possible the Leafs make a move for the big defender, though the Flames, per reports, are not interested in a rush deal and are okay with waiting this one out until they receive a package that they like.