Detroit Red Wings trade deadline: Steve Yzerman on the clock, who's on the market and more

A once-quiet but powerful feeling is rushing to the forefront of the Motor City as fans continue to believe in the Detroit Red Wings' playoff chances this season.

The Red Wings (33-23-6, 72 points) are firmly in the thick of the race for a spot in the NHL playoffs after two straight months of inspired play to start the 2024 calendar.

Now, all eyes are on Friday's trade deadline, and whether general manager Steve Yzerman will be aggressive in trading for more help for the playoff push, or stand pat and rely on the team's depth.

The rebuild has been a long one, especially for a city used to playoff hockey in late April and May, but Yzerman's vision has started to round into shape, as the depth of the roster has helped elevate Detroit into playoff contention for the first time since 2016.

The Red Wings were one of the hottest teams in hockey in February, which included a six-game winning streak that had them nipping at the heels of third place in the Atlantic, but have lost three straight games in rough fashion to the New York Islanders, Florida Panthers and Colorado Avalanche. Despite that, the Wings still have a two-point lead for a wild-card spot, but the playoffs are far from a guarantee.

The immediate future also got a bit cloudy after head coach Derek Lalonde announced captain Dylan Larkin, who leads the team in goals (26) and points (54), would be out for approximately two weeks with a lower-body injury.

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Here are some guidelines for the Red Wings' trade deadline, including Free Press reporting on the team's potential plan of action, names on the trading block, and how the team is approaching a critical stretch without Larkin.

Trade deadline timeline

The trade deadline is scheduled for Friday at 3 p.m. That means all trades must be completed and sent to the league office by then to become official.

NHL teams can still make a trade post-deadline, but players involved are barred from playing in the regular season or postseason that year if they are involved in a post-deadline transaction, which is typically saved for prospects yet to play in the NHL.

There has been some activity already like the Washington Capitals sending out former Red Wing Anthony Mantha, who was dealt by Detroit at the deadline in 2021, to the Las Vegas Golden Knights in exchange for a second and fourth-round pick. Other players that have already been moved include Vladimir Tarasenko going to the Panthers and Chris Tanev joining the Stars in a three-team deal.

Will the Red Wings be buyers or sellers?

The Red Wings have been sellers at the trade deadline while rebuilding the team since their last postseason venture in 2016. Last year, the team snuck up into the conversation for playoff contention in the weeks leading up to the deadline, but decided on selling players like Filip Hronek, Tyler Bertuzzi and Jakub Vrana during the final week of trading in 2023, and the Wings finished another season on the outside looking in.

Though Detroit has dropped the last two games, the feeling is much different leading up to Friday's deadline this year. The Red Wings are still firmly in the playoff picture, projected to have around a 65% chance by models run by the Athletic and HockeyViz for example, and enjoy a wealth of depth at every position, along with some prospects waiting in the wings in Grand Rapids.

Yzerman did a lot during the offseason to position the Wings better heading into the chaotic final frenzy of deadline week. He added depth at every position, such as goalies Alex Lyon and James Reimer, defenseman Shayne Gostisbehere, Jeff Petry and Justin Holl, and forwards Alex DeBrincat, J.T. Compher and Daniel Sprong, among others.

But his biggest roster move of the season was an in-season acquisition, signing future Hall-of-Fame winger Patrick Kane in November fresh off of hip surgery.

The roster construction to this point means there aren't any glaring holes the Wings need to address immediately before Friday's deadline, and there are no pending free agents the team needs to make a decision on before losing them for free in the offseason. The Free Press' Helene St. James reported earlier this week that the team is in a flexible spot, potentially looking to add defensive depth or a forward that can add grit and physicality up front, but it remains a real possibility Yzerman is quiet because of the versatility in the roster already, while already making one splash by bringing in Kane.

Will the Dylan Larkin injury change the deadline approach?

Larkin suffered a lower-body injury in Saturday's loss to the Panthers, putting him on the shelf for around two weeks, the team announced Monday.

His injury and expected two-week absence is a blow for the Red Wings, as they battle for every point they can in a crowded leaderboard, but it is not expected to be a major factor impacting the Red Wings' deadline approach. The team is planning to use Joe Veleno in his spot in the front line along with DeBrincat and Kane, while Andrew Copp slides into Larkin's spot on the top power-play unit.

The Red Wings have seven games scheduled in the two-week window if his recovery goes according to plan. The first half will be a four-game road trip starting in Colorado Wednesday, followed by a back-to-back Friday and Saturday against the Arizona Coyotes and Las Vegas Golden Knights, before returning east to play in Buffalo against the Sabres on Tuesday. They then play the Coyotes at home next Thursday, before another weekend double-header against the Sabres at home and Penguins on the road Sunday.

Names on the trade block

Noah Hanifin, D

If the Red Wings are in the market for a defensive upgrade, Hanifin, one of the remaining assets on a Calgary team shipping off players for assets this year, is a player who could be targeted. Hanifin, 27, is in the last year of his contract, making him an eligible candidate to be moved, and is reportedly seeking an extension. The left-shooting defenseman has 35 points this season (11 G, 24 A), while being a plus-13. Sportsnet insider Elliotte Friedman reported that Hanifin wants to end up on the Tampa Bay Lightning, the Red Wings' neighbor in the standings, but lots of teams are vying for the interest of the top defenseman on the market.

Jake Guentzel, C

Guentzel is the biggest name on the trade block this season as the Penguins look to reshape their roster while gathering prospects and picks. He has 52 points (22 G, 30 A) in 52 appearances this season, but is currently out with an upper-body injury he suffered in mid-February. Guentzel, 29, is a free agent after the season, so the Red Wings would most likely have to factor in an extension to add the bonafide scoring center into the lineup. It has been reported that Guentzel is drawing interest from plenty of contending teams so his price, along with the extension on the horizon, could be a dissuading factor for Detroit.

Justin Holl, D

One of the current Red Wings that could be on the move is defenseman Justin Holl, who joined this offseason from the Toronto Maple Leafs on a three-year deal. Friedman reported earlier this week that Yzerman is "trying to move Justin Holl" before the deadline, so keep an eye on him as a potential departure. Holl, who has 10 points in 35 appearances this season, has not played since Jan. 31 as the defenseman outside of Lalonde's lineup equation. If dealt, Holl would have two years remaining on his contract at $3.4 million a year.

This article originally appeared on Detroit Free Press: Detroit Red Wings trade deadline: What to know, top targets and more