Updated

Nicklas Lidstrom isn't ready to hang up his skates just yet.

The Red Wings received some good news last week when they were informed that the first European captain to hoist the Stanley Cup will return for a 20th season.

Terms of Lidstrom's one-year contract are not finalized as Lidstrom and Wings GM Ken Holland are in Las Vegas for Wednesday's NHL Award Show (7 p.m. ET, VERSUS, CBC), where Lidstrom is a finalist for the Norris Trophy. He has been named the League's top defenseman six times in his Hall of Fame career.

He's also a finalist for the Lady Byng Trophy and the Mark Messier Leadership Award.

Despite an excellent season (16 goals, 46 assists in 82 games), Lidstrom told the team in May that he would take some time during the offseason to mull his future. He told Holland that he would have an answer prior to the 2011 Entry Draft, which begins Friday in St. Paul, Minn.

Lidstrom is near the top of every Red Wings franchise record. He is fourth all-time in games played (1,494), and likely will pass Steve Yzerman (1,514) and Alex Delvecchio (1,549) on that list in 2011-12.

Lidstrom also is third among Red Wings greats in assists (855); fourth in points (1,108); and ninth in goals (253), which is 12 behind John Ogrodnick.

He leads all active NHL players with a plus-429 rating.