The injury forced the 39-year-old Sakic to miss seven games after he hurt himself during a weightlifting session.
Results from an MRI were negative, but the newspaper reported that he will undergo more testing in the coming days.
Sakic did not play in Colorado's 4-3 victory over Tampa Bay on Saturday, one day after he was able to play just one 28-second shift against the Phoenix Coyotes.
"You're always worried," Coach Tony Granato said. "Anytime you lose a player like Joe, your captain and your leader, you always have a concern."
Since the injury, Sakic has played only one full game -- Wednesday against St. Louis.
This season, he has two goals and 10 assists in 15 games, and is tied for fourth on the team in scoring with 12 points.