BIG MONEY, NO WHAMMIES – GET USED TO IT

LOS ANGELES, CA — As the salary cap continues to climb, and with hockey-related revenue (HRR) maintaining a steady flow upwards, get used to seeing bigger and bigger contracts across the NHL year after year.

When news got out that Kirill Kaprizov rejected an eight-year, $128 million contract offer pitched by the Minnesota Wild, the immediate reaction suggested he no longer wanted to stay in Minny. Well, maybe not.

As part of the Collective Bargaining Agreement, players can sign for a maximum of average annual value of 20 percent of the cap in the signing season. With this season’s salary cap set at $95 million, that means the most any player’s AAV – Kaprizov, Jack Eichel, Connor McDavid, etc. – can be on an extension is $19 million, regardless of term. Kaprizov’s $16 million AAV offer puts him at 16.8 percent of the cap.

Now, depending who you speak with on either side of the table, percentage of cap doesn’t often carry significant weight in contract negotiations. But it sure sounds like it’s factoring in, to some degree, with Kaprizov’s camp and their ask.

Next season, the cap is projected to grow to $104.5 million, with the 2027-28 cap projected to be $113 million. Right now, those season’s offer a max AAV of $20.9 million and $22.6 million, respectively. And it is possible those cap projections grow (and for argument’s sake, technically they can also reduce).

Could Kaprizov’s agent, Paul Theofanous, be arguing that his player deserves $17 million or more, considering next season’s cap and future cap years? Seems plausible.

I’ve reported that I expect Eichel’s next deal to be in the $13 million to $14 million AAV range if he stays with Vegas. I guestimate McDavid’s next deal will hover around $17 million per year on a short-to-mid-term deal if he stays in Edmonton, though the two sides have not yet formally exchange numbers.

Contracts are on the rise, just like HRR – and we should get used to it.

So, maybe, assuming he wants to stay in Minnesota, Kaprizov’s ask isn’t out of this world.

KEMPE HOPES TO STAY IN L.A.

Earlier this month, I reported Adrian Kempe was looking for an eight-year extension in the $10 million AAV range, while the Kings originally came in well under $9 million.

While I now believe the player’s annual ask may be in between $10M and $11M, Dennis Bernstein, Scott Laughlin and I had the chance to speak with Kempe on Tuesday at the NHL/NHLPA North American Player Media Tour in Las Vegas while representing SiriusXM NHL Network Radio, and he reiterated his desire to stay in L.A.

The 29-year-old – today’s his birthday; Happy Birthday, Juice – hasn’t put set a deadline on when he’d like to get an extension ironed out, but he also prefers to get a deal done sooner than later.

“I would like to get it done as soon as possible, but I don’t want to rush anything,” he said. “But I also don’t want to come around after Christmas and the (trade) deadline’s coming up and I’m sitting there not knowing where we’re at or we’re not on terms. Before Christmas would be great, before camp would be great.”

Part of the reasoning behind taking things slow revolved around GM Ken Holland getting acclimated to his new club. Holland spoke with Kempe and his agent J.P. Barry after he was hired to get an understanding of where both sides were, and then he shifted his focus to free agent, where the Kings added veterans Cody Ceci, Brian Dumoulin, Anton Forsberg, Joel Armia and Corey Perry. The two sides met a few times over the summer, but there is more work to be done.

With camp getting underway on Wednesday, I’m told Holland and Barry are scheduled to resume negotiations this week and the goal is to find some common ground before the regular-season begins.

For Kempe, that is ideal, as going through the full 2025-26 season without a new deal is worrisome.

“For me and the team, I don’t think it would be a good thing doing that. For me, I feel if I haven’t signed before the deadline, then you don’t know what’s going to happen. I love L.A., my family likes it, that’s the place I want to be, but it has to be fair for me and has to be fair for the team to come to an agreement. That’s what we’re working on right now.”

Meanwhile, as John Hoven first reported on Friday, Perry was injured at an informal players’ practice and the Kings revealed today that he will be out 6-8 weeks due to a knee injury.

HART HAS OPTIONS

With the five Team Canada WJC players eligible to sign NHL deals again effective Oct. 15, teams had already been in contact some of them prior to the NHL’s Thursday announcement.

Any of the players can agree to join a club at any point before officially signing a contract in a few weeks, and we may see that occur with at least one of them.

Goalie Carter Hart has generated the most interest, with the Philadelphia Flyers, Carolina Hurricanes and Pittsburgh Penguins among the clubs that have reached out. I expect a short-term deal for the 27-year-old, and that may come from a Western Conference team when all is said and done. And while there’s speculation the Edmonton Oilers are right there, I haven’t gotten that sense.

Michael McLeod has also attracted interest from multiple teams, while Alex Formenton signed a three-month contract in Switzerland.

HERE AND THERE

• Earlier this week, I reported there’s a sizeable gap between the Nashville Predators and restricted free agent forward Luke Evangelista. The two sides have continued to talk, but I’m told there is frustration from the player’s end. This likely ends up in a bridge deal, but the main issue has been AAV.

• Contract talks are ongoing between the Toronto Maple Leafs and goalie Anthony Stolarz, but there is plenty of work to be done. As of Friday, they aren’t close to a deal and Stolarz told Nick Alberga & Jay Rosehill on Leafs Morning Take, his priority is “just getting paid fairly. Something that helps the team, but at the same time shows they believe in me. I’ll leave that to the agent and Tre (Leafs GM Brad Treliving).”

• Staying on the extension subject, nothing is close right now between the Buffalo Sabres and power forward Alex Tuch. It’s no secret the Sabres want to lock him up – he’s also in the final year of his current contract – but they haven’t gotten to that point yet.

• Blue Jackets beat reporter Aaron Portzline, of The Athletic, reported this week that Columbus forward Yegor Chinakhov has not rescinded his trade request. A trade is not imminent, and the Jackets are hopeful he changes his mind, but they have a solid chip to dangle or package for an upgrade later in the season.

• In Boston, the Bruins haven’t started contract negotiations yet with defenceman Andrew Peeke, who can become an unrestricted free agent next summer. He’s upped his game recently and his minutes climbed in the second half of last season. The Bruins may wait to engage in talks to have a better feel on how their season goes.

• NHL President of Content & Events Steve Mayer told us during this week’s NHL/NHLPA North American Media Tour the NHL has not yet decided on the host city of the 2026 NHL Draft, which will take place on June 26-27, 2026. He expects a make a decision by the end of this calendar year. Per sources, there are approximately five clubs in the running to host, and it seems like the NHL prefers to return to one of their rinks after putting on the 2025 NHL Draft at Peacock Theater in Los Angeles.

• Mayer also told us he wouldn’t be surprised if the NHL plays a Stadium Series game overseas in Europe in the coming years.