It's official! Steve Yzerman is coming back to be the Red Wings general manager. Check out the latest here.

The Detroit Red Wings aren’t wasting time welcoming Steve Yzerman back into their fold.

The Wings have called a press conference for this afternoon, just days after the Tampa Bay Lightning, for whom Yzerman was under contract as a senior adviser to the general manager, were eliminated from the playoffs.

A tweet, and early reports, all but gave away the announcement: Yzerman will become general manager with Holland moving into an advisory role.

A source with knowledge of the situation, who spoke on condition of anonymity, later confirmed the news to the Free Press.

Plus: Our Detroit Red Wings email newsletter is delivered daily. Sign up here!

Also read: Yzerman is coming home, and Red Wings fans are losing their minds

Holland has a year left on his contract as general manager of the Wings. He told the Free Press early this week he is headed to Sweden this weekend to scout the IIHF U18 World Championship.

Yzerman, 53, played for the Wings from 1983-2006, winning three Stanley Cups as captain. Months after retiring he moved into a position as an assistant to Holland, serving in that role until accepting the GM job in Tampa Bay in 2010. There he took two core pieces in Steven Stamkos and Victor Hedman and built a competitive team, though the Lightning also missed the playoffs three times between 2010-2018.

At the start of the 2018-19 season, Yzerman cited family reasons behind a decision to step back as general manager and serve out his contract as an adviser. The 2018-19 Lightning tied Yzerman’s 1995-96 Wings team with 62 victories in the regular season, but were swept in the first round in a series that ended Tuesday.