The 29-year-old suffered the injury to his left knee on Thursday in the Red Wings’ 3-2 win over Chicago in which Franzén scored.
Franzén, who goes by the nickname ‘The Mule’, won a Stanley Cup with Detroit in 2008 and a gold medal with Sweden’s Tre Kronor at the 2006 World Championships.
One of the top Swedish goal-scorers in the NHL last season, he notched 34 goals in 71 games and had all but booked his place in the national squad for next year’s Olympics in Vancouver.
Sweden play their first Olympic match on February 17.
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