At this point I'd prefer to get a contract done, but a deal around a young center and a veteran defenseman (Wright, Larsson), or vice versa, makes some sense to me, organizationally. You're never getting a Nylander type player back in a trade, so I'd target the best future piece available and ideally someone who can help in a more immediate capacity for the roster.
But I'm not sure Seattle would get involved in a trade like that. I don't think Ron Francis has really swung on a big trade piece, much less a pending free agent, in recent memory. Seattle traded a third and a fourth for Bjorkstrand, but that's really about it. I think you'd need an extended Nylander to get Francis onboard, and if that's the case, the price goes up.