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  • Minnesota's Slow Deadline Highlights A Need To Clear Cap Space


    Image courtesy of Jerome Miron-Imagn Images
    Justin Hein

    We can all agree that the Minnesota Wild are having a weird season. 

    For a month, they seemed like a team capable of making a deep run, surprising though it was. Then, a second-straight injury-riddled season raised a complicated question at the trade deadline. 

    Are the Wild buyers or sellers? 

    The team was back-sliding into the playoffs, but the opening-night lineup seemed on schedule to be healthy for the playoffs. On top of that, the Wild had clear incentives to buy. Around the trade deadline, sportsbook odds had Minnesota at 60-to-1 to make the playoffs but only about a 36% chance to win a single playoff round. A major deadline addition could have significantly raised the latter figure. 

    Acquiring Gustav Nyquist for a future second-round pick seemed to reveal Bill Guerin’s answer to that question. Nyquist is a small-impact one-year rental acquired for a relatively low price, given that the pick was deferred to the 2026 draft. Trading Marat Khusnutdinov and Jakub Lauko for Justin Brazeau was another marginal move, and it was driven by Lauko’s health and Khusnutdinov’s future with Minnesota more than anything else. 

    But fans were left wanting more with Minnesota’s top-six forward group starting Marcus Johansson most of the year and most of the Parise-Suter buyout penalties gone after this summer. Kirill Kaprizov and Joel Eriksson Ek’s injuries at the trade deadline opened the door to a unique opportunity to place $14.25 million of pro-rated cap space on LTIR. 

    Fans and bloggers alike wondered: Could the Wild have added a major piece for years to come, with essentially no impact on the 2024-25 salary cap? 

    It would have felt like a just end for the final year of $14.7 million cap penalties to be wiped out by an almost identical influx of LTIR cap relief. However, the impact of adding an eight-figure contract to the books wouldn’t only affect the near future. That player’s contract would need to fit into the Wild’s cap picture for the foreseeable future. What would that look like? 

    First, we must account for extensions for Kaprizov and Marco Rossi. Previously, I’ve estimated that that total cap hits would be about $7.2 million AAV to Rossi for a four-year bridge deal and about $17 million AAV for eight years of Kaprizov. In this exercise, Rossi is projected for a shorter, cheaper deal because (spoiler alert) the Wild cap situation gets tight within a couple of years after the buyout penalties are reduced. 

    In addition, Minnesota needs to make several other re-signings or replacements. Six players (Marcus Johansson, Nyquist, Brazeau, Declan Chisholm, Jon Merrill, and Marc-Andre Fleury) are set to depart in the 2025 offseason. Another four players (Mats Zuccarello, Vinnie Hinostroza, Zach Bogosian, and Filip Gustavsson) have expiring contracts in the 2026 off-season. The Wild must sign or replace those ten players.  

    Youngsters Danila Yurov, Zeev Buium, David Jiricek, Liam Ohgren, and Jesper Wallstedt will be part of the equation. So, here’s a realistic projection of replacing those players: 

    1. Use Danila Yurov to replace Marcus Johansson on the 2nd line. If he becomes an NHL center, Hartman can play left wing on the 2nd line with Yurov, Rossi, and Joel Eriksson Ek centering the top three lines. 
    2. Extend or replace one of Declan Chisholm and Jon Merrill for third-pair defense money, about $2.8 million AAV. Chisholm is younger, has performed better this season, and is an RFA, so that is likely a more efficient plan than retaining Merrill. But, Merrill would likely be available for a lesser price tag if necessary. 
    3. Whichever of Merrill and Chisholm departs in free agency can be replaced by Jiricek or Buium. 
    4. Replace Marc-Andre Fleury’s games with Jesper Wallstedt. 
    5. Re-sign or replace Nyquist for fourth-line pay, about $1.5 million per year. 
    6. Extend Brazeau for 3 years at $1 MM AAV, an acceptable offer per Frank Seravalli’s DFO Rundown podcast.  

    That team would likely make the playoffs on its own and has an extra roster spot to add a forward. But, there is only $4 million of cap space in 2025-26. On top of that, none of this accounts for Kaprizov’s raise.

    This roster would likely be about $3.3 million over the 2026-27 cap, assuming replacements for Zuccarello ($9.37 million for a market-rate 2nd-line winger), Bogosian (Jiricek, assuming both he and Buium are NHL-ready), and Gustavsson ($7.54 million for a market-rate starting goaltender). This doesn’t even account for replacing Hinistroza, leaving only 12 forwards. 

    This plan does not include a path for Liam Ohgren, who could be on track to fill a middle-six role on the 2026-27 team. Even still, it would be optimistic to assume that he could replace Zuccarello’s 2024-25 production. And if the Wild don’t replace Zuccarello’s production, then adding a top-line forward with that cap savings probably doesn’t turn Minnesota into a true Stanley Cup contender. That describes more of a strong playoff team. 

    More importantly, none of these young players are guaranteed to make an NHL impact. Buium and Yurov haven’t played an NHL game, but they’ll need to replace Zuccarello and Merrill’s production to make this plan work. Ohgren’s development could taper off, and Jiricek is hurt. If anything, their inclusion in the original plan is optimistic and still leaves Minnesota $3.5 million over the cap in ‘26-27. 

    All this puts into context why contract negotiations with Minnesota are suddenly hot news items. Marco Rossi and Kirill Kaprizov are in line for some of the largest AAVs in Wild history. Their projections won’t match mine exactly, but that ‘26-27 salary cap seems to be Guerin’s greatest constraint. If he can squeeze half- or three-quarters of a million dollars out of Rossi and Kaprizov, it will give him flexibility against their own ‘26-27 cap projection. 

    There has never been so much pressure on this organization as there will be in the years when those extensions kick in. That will entice management to make aggressive and creative roster moves to maximize next year’s roster without exceeding the ‘26-27 salary cap. Minnesota probably needs to acquire a top-line forward playing at a below-market rate for the next two years. 

    That likely means one or more trades, including core pieces of the current roster, plus high-end prospects. In this scenario, nobody except Kaprizov would be off-limits. 

    The upshot for fans is this: July 1, 2025, is not only the date of a major addition, but it comes with intrigue. Guerin seems on track to make the most impactful off-season move in the entire NHL. 

    Anything short of that would be a disappointment. 

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    Chisholm v. Bogo is probably the major decision.  Chisholm is earmarked for a raise, but Buium coming in means there's only so many spots left.  Bogo being traded keeps him there.  But they might keep Bogo as the depth piece instead.

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    Also, I was considering dumping Hartman after his suspension.  The thing is he's been one of the more productive players since coming back.  It's a risk either way.  Buying him out just adds a bit more back on the tab.

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    1 hour ago, Citizen Strife said:

    Chisholm v. Bogo is probably the major decision.  Chisholm is earmarked for a raise, but Buium coming in means there's only so many spots left.  Bogo being traded keeps him there.  But they might keep Bogo as the depth piece instead.

    Bogo as a 7th D and Zeev + Chisholm is possible, though it creates a handedness issue. Jiricek will be a factor as well, which likely means they'll have flexibility to play whichever of Buium or Jiricek they want in Iowa. 

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    57 minutes ago, Citizen Strife said:

    Also, I was considering dumping Hartman after his suspension.  The thing is he's been one of the more productive players since coming back.  It's a risk either way.  Buying him out just adds a bit more back on the tab.

    My hottest take about this team is that buying out Hartman would be insane, and trading him now would be selling low. He's on a relatively cheap contract for his production. The only way it makes sense is trading him as a piece of an upgrade, which would still not recoup his full value in my eyes. 

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    11 minutes ago, Justin Hein said:

    My hottest take about this team is that buying out Hartman would be insane, and trading him now would be selling low. He's on a relatively cheap contract for his production. The only way it makes sense is trading him as a piece of an upgrade, which would still not recoup his full value in my eyes. 

    Totally agree

    giphy.gif

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    Thing is, Hartman is one really dumb move away from no man's land.  The Stutzle thing didn't paint him in a great light.  Anything close to that again screams, "is it worth the distraction anymore?"  That's probably what he's had to have drilled into him.  He screws up again, he has no more rope.

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    Good article. I agree July 1 is a big deal for Billy and direction of franchise. I’m more interested in that than what they do In the playoffs . Billy is out of excuses. He’ll have to start showing what his plan is by the moves he makes this summer. Signing kappy is the lynch pin . If he doesn’t get that done then he wasted kappys prime years giving ahlers jobs . If he does sign kappy, with who and how does he surround him? Does he run back same team with another Trenin type signing this summer. IMO that’s what’s likely to happen. Carter was talking on broadcast about how the wild are walking back there x-mas in July talk due to the fact they really don’t have money . Like this article lays out.  Nanne was saying same thing. He thought any big add would be at next trade deadline.  So if Billy does something big this summer it’ll likely be a trade . Rossi is the only guy I see with high value . Hartman , moose , Fred , Trenin etc. have little to no value. So it’s hard for me to see what Billy can even do in the summer . Who on the wild have value that can get you something you need? Not many guys in my opinion. So curios what bellicose Billy does this offseason and how it lines up with all the big things he talks about . Like winning a playoff round and contending for a cup. 

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    Great article Justin.  We will see what happens, but I can't imagine we will bring Merril or Chisolm back next year.  Bogo is signed and adding Jiricek and Buium would give us 7 D-men.  Lambos would be an emergency 8th defenseman. Assuming no trades or resigning's this offseason besides Rossi, would give us a line-up of Kap, Ek, Zuccy, Boldy, Rossi, Yurov, Freddy G, Hartman, Foligno, Vinny, Ohgren, Trenin and an AHL'er for your 13th spot of forwards.  D would be Faber, Spurg, Brodin, Midds, Buium, Bogo and Jiricek for the 7 d-men, and Gus and the Wall for goalie.

    We have almost $22M in space next year.  Take off Rossi at $7M and the Walls $2,2M we are down to about 13.5M.  The rest of the players will be on ELC's, so around $5M for Buium, Jiricek, Ohgren, Yurov and a 13th forward.  Should have around $8-8.5M in space next year, without adding or subtracting anyone.

    I thought earlier this year that Kap may sign for close to what the article states, but with Ranty only getting $12M and Draisaitl signing for $14M.  I can't see Kap getting more than $15M, but I could be wrong.

    Puckpedia has us with $50M in space for 2026.  Take out $22M for Kap and Rossi, we have $28M left over.  Would have Kap, Boldy, Ek, Rossi, Hartman, Foligno, Trenin, and Freddy G under contract for 8 forwards.  Our D would be Faber, Midds, Spurg and Brodin for 4 d-men and the Wall at goalie.  Puts us at 13 players and $28M to sign 5 more forwards, 3 D-men and a goalie. Yurov will still be on an ELC, so now $27M to sign 4 more forwards.  I would hope we could do that with 2 ELC's (Stramel, Haight, Heidt) leaving us with $25M. Jiricek and Lambos can be resigned as RFA's to fill the D and probably will not cost a ton, probably no more than $4M total, unless they go off next year and Buium on an ELC, leaves us with $20M and only 2 forward spots and a goalie to fill.

    I think we can find another goalie besides paying Gus over $7M.  Gus has a great save percentage, but I think that has more to do with our system than him.  He ranks pretty far down the list in high danger save pct.  If the Wall plays good next year and we can find a goalie in the $4-5M range, would leave us $15-16M to find two forwards.

     

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    1 hour ago, Dean said:

    If he does sign kappy, with who and how does he surround him? 

    Do you have any names  or ideas ? , most of my ideas seemed to be dead ends no thanks, but im just a casual fan and not really much of an expert on what types of players work best in which systems .    

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    I think we can find another goalie besides paying Gus over $7M

    I would have thought that too, but Fleury's numbers are about 30-40th in the league, while Gus has been 10th-15th at worst all season.  I don't trust the Wall to rebound from his injuries and mental fuck ups just yet.  Paying Gus is the best option.

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    9 minutes ago, Citizen Strife said:

    I think we can find another goalie besides paying Gus over $7M

    I would have thought that too, but Fleury's numbers are about 30-40th in the league, while Gus has been 10th-15th at worst all season.  I don't trust the Wall to rebound from his injuries and mental fuck ups just yet.  Paying Gus is the best option.

    Yea, his save percentage is good, but his save percentage for medium danger and high danger is not even top 20, we just don’t allow a ton of them.  I think we rank 5th in allowing high danger scoring chances.  Not saying he isn’t good, but if the Wall comes in next year and does well, I think it is an option to find someone else to save some money and maybe find another scorer.  Ask me again at the end of next year.  I might change my thinking depending on what the team needs are. 

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    57 minutes ago, SkolWild73 said:

    I thought earlier this year that Kap may sign for close to what the article states, but with Ranty only getting $12M and Draisaitl signing for $14M.  I can't see Kap getting more than $15M, but I could be wrong.

     

    Personally, I love having Kap on the team but if he asks for more than $14M on the extension, then Bill should ask for a list of teams he would approve a trade to. His contract comps should be Rantanen, Nylander, Pasta, and Panarin. The largest AAV there is 12M, so 14M would be a premium. You can argue that Kap is better than those players, but so far they have one major ability that is better: availability.

    If GMBG wants to make moves, then he is going to have to move out a couple bad/underperforming contracts, Trenin is at the top of my list.

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    1 hour ago, Kato AK said:

    Personally, I love having Kap on the team but if he asks for more than $14M on the extension, then Bill should ask for a list of teams he would approve a trade to. His contract comps should be Rantanen, Nylander, Pasta, and Panarin. The largest AAV there is 12M, so 14M would be a premium. You can argue that Kap is better than those players, but so far they have one major ability that is better: availability.

    If GMBG wants to make moves, then he is going to have to move out a couple bad/underperforming contracts, Trenin is at the top of my list.

    Yea, I am hoping he doesn’t go above 14M either.  Wanted to go on what I thought the high side would be in my projections.

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    2 hours ago, SkolWild73 said:

    if the Wall comes in next year and does well, I think it is an option to find someone else to save some money and maybe find another scorer.  Ask me again at the end of next year.  I might change my thinking depending on what the team needs are. 

    The year to see what Wallstedt can do in the NHL was this year. If he isn't ready and falters early next season, the Wild will have to look at trading for another backup option, and what remains of Wallstedt's trade value plummets. That is why bringing back Fleury this year was so misaligned. Wild should look to package Wallstedt Ohgren, and Hartman (if a team isn't on his no-trade list) along with draft pick(s) for a bona fide top six forward. Sign Nelson to play on third line with Ek and Foligno, leaving a fourth line of Hinostoza, Gaudreau, and Trenin. 

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    3 hours ago, RedLake said:

    Injury Prone Kaprizov 14mil lmao. 9 tops!

    From an entertainment perspective hes a fun player to watch even more than most  everyone else except maybe Mcdavid and he puts up points so hell get 12-13 minimum   .     Theres very few players id rather have than Kappy to be honest .  

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    I’m with you till the last two - it’s not even the money - it’s having nyquist and braz on the team. There is no need for them - so I’d let them go.

    Definitely will be trades. I think Bill will make another blunder and ship out Rossi (the wrong player to trade) for someone like Boeser (the wrong player to get).

    I would dangle Boldy and Faber as both should bring premium talent back. 

    if we can do Boldy for Svevhnikov and Faber for Tkachuk - that would be my preference 

    Kap Rossi Tkachuk / EK Yurov Svechnikov

    not too bad

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    6 hours ago, Dango said:

    From an entertainment perspective hes a fun player to watch even more than most  everyone else except maybe Mcdavid and he puts up points so hell get 12-13 minimum   .     Theres very few players id rather have than Kappy to be honest .  

    I'll take Kaprizov all day but get him a Marner or Kyle Conner to play with. Hell make a trade with  Chicago and get him Bedsey.Rebuild or go all in!

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    19 hours ago, Citizen Strife said:

    Chisholm is earmarked for a raise,

    Chisholm is not earmarked for a raise. Look at his stats and how he's been scratched lately for Merrill. He should get qualified and that's it. 

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    I'm ok with that though.  If Chisholm barely takes a raise, or leaves outright, that's money used elsewhere.  Chisholm leaving makes it easier for Jiricek to play day one.

    Any money saved gets more to splurge on forward help someday.

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    I really don't care about these worth algorithms for players. There is no way that Goose is worth $7m/. He is at best a $5m goalie. We don't even know if he can put together b2b years yet. 

    I do think we need to ship out some salary, and for me, Hartman is on that list. My hope is he finishes the season strong and has a good playoffs. I think our commitment should be getting the team younger and hungrier. I'd also entertain trading out Spurgy for a targeted player somewhere in the '20-22 draft area. Maybe someone who has a bright future but isn't established yet. I still see Detroit as the main target here. 

    At this time, I wouldn't trade Rossi, I'd make sure to qualify him and see what he finds in RFA land. If an offersheet comes his way, we can see the team and the price and make a decision then. St. Louis got away with it with Edmonton mainly because Edmonton had no cap space. We don't have that problem going into next season. 

    Shooter has slow walked the kids into the lineup. That should change next season. It is their time. Let's bring them in in mass. The result of that is likely to be a rollercoaster season, but we need the vision of the new team that has a lot of speed. I like Breezers on the 4th line, but the thing is that we've got so many 4th line players were going to have to pick and choose. This sounds contradictory, but Breezers makes up for his lack of speed with bulk where he still can cover a lot of ground. 

    So, on my trade block are Spurgeon, Hartman and Trenin. We don't give them away, but we look for pieces that better fit our new identity. Some are players who haven't quite established their games yet but are improving. It's not just speed and skill we need, either, but it's a complete 200' player who is skilled, yet finishes checks. Those guys are hard to find, which means we open up Judd's draft book from year's past to find out who highlighted that is still improving. Hopefully that guy has real NHL size and isn't undersized. 

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    2 hours ago, mnfaninnc said:

    I really don't care about these worth algorithms for players. There is no way that Goose is worth $7m/. He is at best a $5m goalie. We don't even know if he can put together b2b years yet. 

    I agree with you.  $7M would put him in the top 8 I believe for 2026.  Maybe we will know more next season, but I still think his performance has a lot to do with how we play D.  $5M seems about right

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