Insider reports that Dylan Larkin has been traded to Devils

UPDATE 2: Quasi-NHL insider Jordan Schmaltz, brother of Utah Mammoth forward Nick Schmaltz, is reporting that Dylan Larkin has been traded to the New Jersey Devils.

Read below for our earlier reports on this developing story, and stay tuned for official confirmation.

UPDATE: Nothing from interim Red Wings GM Shawn Horcoff just yet, but NHL insider Frank Seravalli confirms that indeed Larkin's time with the team has come to an end. Seravalli is reporting that Larkin will be withheld from the Red Wings' lineup for "asset protection" until a trade with another NHL team can be consummated.

From Seravalli:

Read below for our earlier report and stay tuned to this story for an update directly from GM Horcoff.

Detroit Red Wings fans may be on the verge of getting some major answers in the ongoing Dylan Larkin trade saga, with head coach Todd McLellan delivering a significant update to reporters today.

McLellan confirmed that Larkin will not play, while Red Wings general manager Shawn Horcoff is expected to address “the situation” later today. That vague wording has only added fuel to the speculation surrounding the future of Detroit's captain, with growing belief around the NHL that the veteran forward has played his final game for the organization.

According to the belief circulating among NHL insiders, Larkin could remain out of Detroit's lineup until a trade is officially completed. If that proves to be the case, the Red Wings may be preparing for a separation that has been building behind the scenes for some time.

Larkin's trade saga has been one of the biggest distractions surrounding the Red Wings this season. The former captain requested a trade during the summer, and despite reporting to training camp and returning to the lineup, the situation has remained unresolved. He has since been stripped of the captaincy, adding another uncomfortable layer to an already messy breakup.

Horcoff now faces a difficult decision. Detroit needs a significant return for a top-line center, but Larkin's no-trade clause limits the potential destinations and gives the 30-year-old a say in where he ends up. The Red Wings have reportedly been looking for young centers and high-end prospects as they explore their options.

Today's announcement raises the stakes considerably. Horcoff's comments could provide the clearest indication yet of where negotiations stand, although no trade has been confirmed.

For now, all eyes are on Detroit's interim general manager. If Larkin is indeed being held out until a deal is completed, the next major announcement could finally bring an end to a saga that has overshadowed the Red Wings for months.