Dylan Larkin's updated three-team list is revealed by Frank Seravalli and it's completely different

Helene St. James of the Detroit Free Press reports that Larkin would waive his full no-trade clause for the Florida Panthers, Minnesota Wild, and Vegas Golden Knights.

The list is notably different from what Elliotte Friedman reported on the FAN Hockey Show just days ago, when the names circulating were Minnesota, Dallas, and Tampa Bay.

Minnesota survived both versions of the list. Dallas and Tampa did not. In their place, Larkin chose Florida and Vegas, two franchises where his 2026 Olympic teammates happen to play and where state income tax happens not to exist.

Matthew Tkachuk is in Sunrise, Jack Eichel is in Las Vegas, and Quinn Hughes is in Saint Paul.

The Milan Cortina connection is real and clearly driving this.

Larkin carries an $8.7 million cap hit through 2031 with a full no-trade clause through 2028.

When only three teams are eligible buyers and all of them know it, the bidding war that should follow a 30-goal center hitting the trade market never materializes.

Steve Yzerman now has to negotiate with teams that hold the structural advantage.

Vegas is tight against the cap. Minnesota emptied its prospect pipeline for Quinn Hughes.

Florida has pieces but may not want to part with Anton Lundell. None of them need to outbid the other 29 clubs because those clubs were never in the room.

Larkin has scored 30 or more goals in five consecutive seasons and remains one of the fastest skaters in the league at 29.

That profile should command a haul. But a three-team list with full no-trade protection is a market with no competition, and markets without competition do not produce top dollar.

The longer this list stays at three names, the more leverage flows away from Detroit and toward the teams Larkin chose.