Instead, BriseBois takes over a team that should contend for years to come.
"To do the job the way it needs to be done and to be with my family as well, it's becoming hard to do", Yzerman said, via ESPN. The Lightning posted a 54-23-5 record last season and has advanced to the conference finals twice in the past three years.
Yzerman will stay in the organization for the 2018-19 season as an advisor to GM Julien BriseBois, the team's former assistant general manager. Tampa has reached three conference finals and one Stanley Cup final since Yzerman became the general manager in 2010.
A source told the Detroit Free Press that Yzerman told Lightning players in the meeting that he was going home to Detroit, the city where he was made a legend and still lives during the offseason.
Although Yzerman remains "100 percent committed" to his role for the upcoming campaign, it remains to be seen how much longer he'll hang around with the Lightning.
"It will be business as usual for the Tampa Bay Lightning", BriseBois said. "That mission is to win the Stanley Cup".
Regardless, this is a pretty stunning development in the hockey world given how well Yzerman has done in building a contender in Tampa.
Before taking on an executive role, Yzerman spent his entire National Hockey League playing career from 1983 to 2006 with the Red Wings and helped Detroit win three Stanley Cups between 1997 and 2002.
Yzerman, 53, was first connected to the Red Wings' GM job when he worked in the team's front office from 2006-2010. "Again, entirely speculation. And Ken Holland has a two-year extension with the Red Wings".
Among the major personnel moves under Yzerman's tenure included the trade of franchise talisman Martin St-Louis to the New York Rangers in 2014 and the re-signing of Steven Stamkos to an eight-year, $68 million deal in 2016. "So hopefully it's this year".