Minnesota Wild left winger Kirill Kaprizov reset the market this week, signing an eight-year, $136 million extension that carries a $17 million average annual value. 

The deal has the highest total value in NHL history and immediately raises questions about how it will ripple across the league.

Specifically, the immediate question is how it will impact pending UFAs.

“The reality with the cap going up and Kaprizov making $17 million on his new deal is that every good forward's value on an existing contract just went up exponentially. Players like Tage Thompson at $7 million or William Nylander at $11.5 million have to be considered bargains,” The Hockey News’ Michael Augello wrote on X.

Let’s look at big names ready to sign big contracts and how, if at all, the Kaprizov deal will affect their negotiations.

Impacted: Adrian Kempe, Los Angeles Kings

One interesting name to watch comes from Los Angeles, where the Kings and winger Adrian Kempe might have been close to an extension, but the Kaprizov deal changes things. 

Talks between the Kings and Kempe’s representatives are set to resume this week, and according to Elliotte Friedman on the FAN Hockey Show, his camp was already targeting an ask in the $10.5 million range. How much did that just jump as Kempe watched Kaprizov sign for $6.5 million more per season?

Kempe is not Kaprizov. Kempe’s career high is 75 points, while Kaprizov’s is 108. It’s fair to assume Kempe’s camp knows there’s a difference between the two players, both in terms of their on-ice production and overall value to the franchise. Still, Kempe, a 40-goal scorer two seasons ago, has proven he can drive offense, and the Kaprizov benchmark strengthens his negotiating position.

Impacted: Kyle Connor, Winnipeg Jets

Winnipeg Jets left winger Kyle Connor is another player to watch. A consistent scoring threat and former Lady Byng Trophy winner, Connor has been a critical piece for Winnipeg’s attack. Like Kaprizov, Connor is essential to the Jets’ franchise. Unlike Kaprizov, it’s arguably for a different reason.

Kaprizov is the face of the Wild. He brings in fans. Connor, meanwhile, represents the Jets' ability to retain key players in a market that isn’t always at the top of the list for big stars. If he re-signs, that will help attract other players to Winnipeg.

With Kaprizov’s $17 million average annual value approaching as the new ceiling for elite wingers, Connor’s next deal, which was believed to be hovering around the $12 million mark per season, is almost certain to command more than previously projected.

Not Impacted: Jack Eichel, Vegas Golden Knights

For Jack Eichel and the Golden Knights, Kaprizov’s deal has little direct impact. 

First, Eichel is a center. Second, he’s playing in a market that almost every NHL player wants to go to. Third, no-tax benefits change what Eichel can ask for and will receive. 

Eichel, 28, is finishing up an eight-year, $80 million contract and is expected to ask for more than $13 million annually – surpassing teammate Mitch Marner’s $12 million figure. His case is based on the top of the center market, not the winger market, and he has absolutely no desire to leave Vegas. Eichel’s leverage is more an internal cap thing than it is looking at Kaprizov’s deal and telling Vegas they need to get close. 

NHL Rumor Roundup: How Will Kirill Kaprizov's Contract Affect the 2026 UFA Market?The Minnesota Wild signing Kirill Kaprizov to an eight-year, $136-million contract extension will make the 28-year-old left winger the NHL's highest-paid player starting next season.

Impacted: Martin Necas, Colorado Avalanche

The Colorado Avalanche are in a tricky situation that only got trickier with the Kaprizov deal. 

Martin Necas is locked in at $6.5 million this year and is looking to cash in on a new extension. Sportsnet’s Nick Kypreos said in June there was a sense Necas wasn’t thrilled with his run in Colorado after joining the team in a trade from the Carolina Hurricanes. As such, it is expected that he will ask for every penny he can get. Otherwise, he’ll test the market. 

Necas is an underrated talent who doesn’t have the same pedigree as Kaprizov. At the same time, the Avalanche gave up Mikko Rantanen in a deal they might likely look back on and regret. If they aren’t willing to let Necas walk away, too, then they may have to pay more than expected to maintain similar margins in cap hit between Necas and a star like Kaprizov.

Not Impacted: Connor McDavid, Edmonton Oilers

If there is one unicorn in the group of free agents that wasn’t named Kaprizov, it’s Connor McDavid. His situation is totally unique from anyone else’s, simply because he’s the best player in the world.

If he chooses to take less so the team he’s on can remain competitive, then the Kaprizov contract means nothing. If he wants to be the highest-paid player in the NHL, he should be, and no one will ask questions or try to negotiate with him. McDavid will simply tell the Edmonton Oilers – or another team in free agency this summer – what he wants, and that team will give it to him. 

Some might argue that McDavid will see the Kaprizov deal and feel the need to make more. That said, while McDavid wants to be paid fairly, he doesn’t seem to be motivated by money. He’s motivated by giving himself the best chance to win a Stanley Cup multiple times.

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