ST. PAUL, Minn. — The Minnesota Wild have agreed to terms with Kirill Kaprizov on a record-breaking contract, announcing Tuesday that they’ve locked him up on an eight-year extension worth $138 million — a $17 million average annual salary.
The contract, which begins in 2026-27 and goes through 2033-34, is the richest in NHL history, both in terms of total dollars and AAV.
The terms are groundbreaking. Even though the contract starts in 2026-27, the max that Kaprizov could have gotten annually was $19.1 million, 20 percent of the 2025-26 salary cap ceiling of $95.5 million, because that’s the signing year. The Wild gave him that in salary and signing bonuses in each of his first four years, league sources told The Athletic.
Kaprizov will earn a $1 million salary in each of the eight years, with July 1 signing bonuses of $18.1 million, $18.1 million, $18.1 million, $18.1 million, $16 million, $14.2 million, $12.7 million and $12.7 million, starting in 2026.
The contract also comes with a full no-move clause.
Kaprizov, 28, was entering the final year of his contract and could have become an unrestricted free agent next summer. The Wild made it a priority to get him signed when he became eligible on July 1. Negotiations lasted throughout the offseason until Wild president of hockey operations and general manager Bill Guerin hit the brakes, allowing him to sit down with Kaprizov face-to-face after he returned to Minnesota earlier this month.
In that Sept. 9 meeting, which included agent Paul Theofanous, Kaprizov turned down an eight-year, $128 million contract.
The Wild maintained hope that Kaprizov would become the first domino to fall of the several stars entering the final year of their contracts. They weren’t inclined to negotiate against themselves and raise their offer, but league sources said they eventually did in the past couple of days. The risk of starting the season without locking up Kaprizov was massive, both in terms of injury risk and what could happen if they got off to a poor start.
Minnesota was also hoping that a torn ACL and MCL suffered by Florida Panthers captain Aleksander Barkov last week would make Kaprizov consider the risks of playing without a guaranteed contract in his pocket.
When the contract kicks in, Kaprizov will be paid more than Hart Trophy winners Leon Draisaitl ($14 million AAV), Auston Matthews ($13.25 million AAV) and Nathan MacKinnon ($12.6 million). It is also higher than Connor McDavid’s current $12 million AAV, though McDavid is also eligible to sign an extension ahead of potentially becoming a UFA after the 2025-26 season.
Kaprizov’s current five-year deal carries a $9 million AAV. When he signed that contract, it was the richest in NHL history for a player with so little service time (55 games).
This is a significant moment not only for Kaprizov, who gets a major payday and security, but also for the Wild. It’s a validation of their plan to build a serious contender. Kaprizov said the most important thing to him is winning. Minnesota hasn’t won a first-round series since 2015, but it believes it is close to turning the corner, with Kaprizov as the centerpiece of that plan.
Kaprizov snapped a streak of three straight seasons with 40 or more goals this past season, when he played only 41 games due to a lower-body injury that eventually required surgery in January. He had 25 goals and 56 points and was considered the Hart Trophy front-runner until he had to come out of the lineup after Christmas. He returned before the end of the regular season and had his best playoff performance yet, with five goals and nine points in a six-game series loss to Vegas.
Overall, Kaprizov has 185 goals and 386 points in 319 career games.
What it means for Wild
Minnesota absolutely had to get this done, as there’s no replacing Kaprizov. All of the team’s long-term plans revolve around him. Locking him in a year ahead of free agency eliminates potential angst, stress and distraction entering the season.
It also gives Guerin some financial clarity on what his cap situation will look like in the future, knowing he’s going to have to build around this cap hit as the ceiling rises.
Kaprizov’s extension could also help the Wild court other free agents, knowing there’s already a cornerstone in place long term. It won’t automatically make the Wild a perennial Stanley Cup contender. Still, it’s a huge piece and does put pressure on the team to build a contender in the earlier window of a contract that takes Kaprizov into his late 30s.
97 is HERE. TO. STAY. 🙂↕️ pic.twitter.com/NN9sjW2xuV
— Minnesota Wild (@mnwild) September 30, 2025
What it means for Kaprizov
Kaprizov would have had plenty of suitors in a star-studded 2026 UFA class and might have been able to eclipse this AAV in a bidding scenario — albeit for seven years, not eight.
However, Kaprizov still got the bag financially, putting him in the company of the best players in the world. The fact that he missed half of last season due to injuries, including abdominal issues that necessitated surgery, might have given him pause about waiting another year and risking further injuries before free agency.
Kaprizov is putting a lot of trust in the fact that he can win in Minnesota. However, the Russian winger has said he “loves everything” here and called Minnesota his “second home” recently. There’s something to be said about enjoying where you live, your teammates and being comfortable.
Is it too much?
Time will tell how the contract ages, especially considering it won’t kick in until he turns 29. The Wild are taking on risk here in terms of how Kaprizov ages and deals with injuries.
However, the salary cap is making significant jumps — to $95.5 million this season, $104 million for 2026-27 and $113.5 million for 2027-28 — which should make it more palatable. The smoothness of recent CBA negotiations should ensure there’s more money coming into the market in the coming years, too.
No matter how large the cap hit, though, it’s not nearly as impactful as if the Wild had had to try to replace Kaprizov or trade him. Minnesota doesn’t plan on drafting in the top 10 anytime soon, and finding a franchise cornerstone in the fifth round like Kaprizov (in 2015) is extremely rare.
(Photo: Nick Wosika / Imagn Images)
