Luongo, 33, has been on the trade block for several months after backup goalie Cory Schneider stole the No.1 job in between the pipes in Vancouver.
Friedman expressed doubt that the Canucks would trade Luongo to a division rival, or that the veteran goalie, who has a no-trade clause included in his hefty contract, would even want to go there.
The CBC analyst also dismisses the thought that 2012 first overall pick Nail Yakupov go be traded for Montreal Canadiens defenseman P.K. Subban.
The Habs are not likely to move Subban, especially given the uncertainty of fellow blueliner Andrei Markov's health.