It was just a matter of time until a talented player would reset the market, but few expected it to be Minnesota Wild winger Kirill Kaprizov. The Russian star signed an eight-year, $136 million contract on Tuesday. The deal, which takes effect at the beginning of the 2026-27 season, sees the player earn $17 million in Average Annual Value (AAV) per season.
Kaprizov didn’t just become the new NHL leader in AAV; he smashed the previous high of $14 million per season that Edmonton Oilers star Leon Draisaitl received in his eight-year extension. Perhaps a player like Mitch Marner could have approached that number. His agent, Darren Ferris, indicated he wanted to take the player on a tour around the NHL to see what was out there, but the former Toronto Maple Leafs player was set on joining the Vegas Golden Knights agreeing to a sign-and-trade deal worth $12 million per season. The Wild didn't want to let Kaprizov walk, and after reports that the player turned down $16 million, here we are at $17 million.
This $17 million contract is the new benchmark, and there is one player who is an even bigger threat to reset the market: the hard-to-dispute No. 1 player in the NHL, Connor McDavid. While reports suggested McDavid could take less money with the Oilers if he chooses to stay, it’s hard to know if that's true after Kaprizov set the market into a state of uncertainty. The salary cap is projected to be $104 million for 2026-27. If McDavid took the maximum allowable percentage of the cap, he could command as high as $20.8 million per season. And while he probably doesn’t demand that much, how do you not command $17.5 million per year if Kaprizov got $17 million?
Why Connor McDavid Shouldn't Consider An Oilers Discount After Kaprizov SigningNews that Minnesota Wild superstar left winger Kirill Kaprizov signed an eight-year contract extension Tuesday sent ripple effects throughout the NHL – most notably, in Edmonton, where Oilers dynamo Connor McDavid is in need of a contract extension.
This financial escalation directly affects the Maple Leafs, who are still looking to improve their forward depth and would like to acquire a top-six winger following Marner's absence. What does this escalation mean for other players in the top-10 or top-20 in the NHL?
The Maple Leafs have about $20.3 million in cap space for 2026-27 based on a roster of 18 players. Their defense and goaltending are essentially locked in; they need forwards. A player like Kyle Connor would certainly fit that bill of an elite winger. With 97 points in 82 games with the Winnipeg Jets, he certainly could have commanded $11 million per season in his next contract. But maybe that’s now $14 or $15 million after seeing what Kaprizov got. Jack Eichel is in the final year of an eight-year contract. Perhaps Vegas gets a discount to keep the player and flex the tax advantage, but he’s probably a $14–$15 million guy otherwise, if not more. What about second-line forwards? Does a player like Alex Tuch get $9 million in this new financial landscape? It’s hard to argue against it based on what we’ve seen.
Why The Maple Leafs’ Best Chance to Replace Mitch Marner Will Come At The 2026 NHL Trade DeadlineIt’s been a quiet August for the Toronto Maple Leafs, and unless something unforeseen happens before training camp, the team’s roster could head into camp as it is currently constructed. This means there is no direct replacement for Mitch Marner, who departed the organization in June in a sign-and-trade with the Vegas Golden Knights.
Suddenly, $20.3 million doesn’t look like a ton of money for Toronto to work with, though they could certainly clear out more. In this instance, the Leafs weren’t the market setters, as Minnesota paid what they had to for the player to not entertain offers. But it doesn’t mean they are thrilled about seeing Kaprizov get that kind of salary. Just think about the money Auston Matthews will command when he’s eligible for a contract extension on July 1, 2027.
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