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The gangly-striker spent a couple of months on loan at the Conference side at the end of last season, scoring twice in seven starts and seemingly did enough to impress The U's manager for Jim Smith to consider signing him on a permanent basis.
"If we can get Chris Zebroski I'll be quite happy with the guys up front," Smith said. "I've spoken to Millwall and they're discussing it at board level.
"He's got a year left on his contract there, but there's a good possibility that we could get him, I think.
"He did well for a young man, and he can hopefully get better and he's the right age."
The 20-year-old striker scored three goals for The Lions last term but found himself dropping down the pecking order when the likes of Ben May and Darren Byfield returned from injury.
And with Willie Donachie being told to cut the wage bill, the club could be pursuaded to let the player go on a free, rather than ask the cash-strapped U's for a transfer fee.