"We'll see, though," Holmstrom told the paper. "My knees are feeling good right now but I've had trouble with them (during the past few seasons)."
Holland will take a look at the free agent and the trade markets before offering Holmstrom a potential contract extension.
"Let's see where both of us are at after (July 1)," Holland added.
The Wings currently have 11 forwards under contract for next season, counting young Gustav Nyquist, while Holland is likely to re-sign Darren Helm and Justin Abdelkader, who are eligible for restricted free agency.
The Wings are also looking to add a top-six forward via free agency and could decide amongst some of their own players who can fit into the club’s future.
"There a lot of young guys coming up, and I think I can help them," said Holmstrom, who finished with 11 goals last season, 10 on the powerplay. "You need (some older) guys to show the younger guys."