The futures of the Edmonton Oilers ' Connor McDavid and the Minnesota Wild' s Kirill Kaprizov have fueled speculation all summer, and that won't stop until they put pen to paper.
With both players already eligible to sign an extension before they start their final season under contract, the reasons behind their delays to sign are beginning to emerge.
Marco D’Amico of RG Media reported on Friday that the two superstars are effectively waiting on each other before committing to their next deals. Quoting sources "close to the Wild," D'Amico reported that Kaprizov is holding off until McDavid signs and vice versa.
Sources from the Wild shoot down the rumor of having asked for Kaprizov's trade list.
— Marco D'Amico (@mndamico) September 12, 2025
The hold-up, according to another source, could be tied to Connor McDavid and Kaprizov's camp wanting close to 20% of the cap on an 8-year deal.
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“There’s a belief that there is no rush in Kaprizov’s camp to come to a deal until he sees how the market is reset by the signing of the league’s best player. (Kaprizov) is pushing for close to 20 percent of the salary cap, so there’s no reason to rush right now,” D'Amico wrote. “He’ll look for $18 [million] or even $19 million [per year] on an eight-year deal.
“He’s going to wait until McDavid signs his deal and then make his decision. The Wild’s owner put himself in a tough spot by saying he’d make Kaprizov the highest-paid player. Now his hands are tied.”
Both situations are compounded by the NHL’s rising salary cap, which executives expect could nearly double to $170 million over the next decade, per D'Amico, making long-term deals less appealing for players who want to maximize their earnings.
According to D’Amico’s report, McDavid and Kaprizov are each seeking the maximum 20 percent share of the cap on their next deals but are more likely to take shorter terms so they can re-sign when the ceiling rises further.
On Thursday’s “32 Thoughts” podcast, Sportnet’s Elliotte Friedman laid out his theory for why Kaprizov may have balked at the Wild's reported eight-year, $128 million offer.
“You sign a deal that big, and if you don’t like it later, you ask for a trade,” Friedman said. “The only reason to say no is that there are smoke signals out there that more [money] is waiting.”
Following Kaprizov's supposed rejection of the Wild's offer, reports circulated that Minnesota had asked Kaprizov to submit a trade list in advance, fearing losing him for nothing next July. D’Amico’s sources flatly denied that claim.
“The Wild have not and will not be asking Kaprizov for a trade list,” a source told RG.
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