Two serious best trade offers have been submitted for Dylan Larkin

Elliotte Friedman reported on the 32 Thoughts podcast that Minnesota and Florida may have already submitted their best offers for the Detroit Red Wings captain.

Most fans will hear that and assume a deal is close. The reality might be the opposite.

If "best offers" means both teams have already reached their ceiling, Steve Yzerman is not sitting in a position of strength.

He is staring at two packages that may not be strong enough to justify moving a franchise center signed through 2031 at $8.7 million annually.

The Wild already emptied significant prospect capital to land Quinn Hughes earlier this season.

That deal cost them Zeev Buium, Marco Rossi, Liam Ohgren, and a 2026 first-round pick.

Friedman specifically mentioned Danila Yurov and Charlie Stramel as pieces in a potential Larkin package, but those are the leftovers after a franchise-altering trade, not the headliners of one.

Florida has over $15 million in cap room, but the Panthers are already paying five forwards north of $7 million per year.

Unless they are willing to part with someone like Anton Lundell, the prospect pool does not match the asking price for a player of Larkin's caliber.

The Golden Knights remain on Larkin's three-team list but are occupied with the Stanley Cup Final against Carolina.

That leaves Yzerman negotiating with two teams that may have already shown their best cards while the third has not even sat down at the table.

Larkin's full no-trade clause means Detroit cannot simply expand the market to drive up the price.

The leverage here belongs to the player, not the general manager. If neither existing offer clears the bar, this standoff could drag well past the draft and into a very uncomfortable training camp.