In a statement released through the team's website, Yzerman revealed that the Lightning will not trade Stamkos this season.
"As February 29th approaches, I am stating today that Steven Stamkos will not be traded before the NHL's trade deadline," Yzerman said. "I have said repeatedly that it is our hope to reach an agreement with Steven on a new contract at some point, and with 27 games remaining in the season, our entire organization, Steven included, wants to focus on making the playoffs. I will keep the negotiating process strictly between the involved parties and have no further comment on the state of those negotiations."
Contract talks are expected to continue between Yzerman and Stamkos' agents, Don Meehan and Mark Guy, but it's unknown if a new deal will be reached this season.
The Lightning appears to be focused on competing for a Stanley Cup this season and will move towards the deadline with the intent of adding to their roster.