Kirill Kaprizov has made NHL history. The Minnesota Wild winger has signed the largest contract in league history at eight years, $136 million. Kaprizov's cap hit throughout the contract will be $17 million, which surpasses the previous high of $14 million held by Leon Draisaitl.
The decision to sign Kaprizov to a contract that carries an AAV of $17 million opens up a new door across the NHL. Contracts for superstars are now going to hit levels never seen before, while even fourth-liners should be able to get raises on their next deal. All of this is possible as the cap continues to rise, with a projected ceiling of $104 million for the 2026-27 season.
One big winner of Kaprizov's new contract with the Wild is Vancouver Canucks defenceman Quinn Hughes. On July 1, 2026, Hughes can start negotiating his new contract, which is expected to carry one of the highest cap hits in the league once signed. Hughes becoming one of the highest-paid players in the league will be well deserved, as he has been a top-five player in the league for the last three seasons.
The question is, what will Hughes' cap hit look like? With the line now at $17 million, this means Hughes' cap hit could be above $16 million for the 2027-28 season. It is also very possible that Hughes could carry a cap hit of $18 million, as the cap hit line is expected to change again when Edmonton Oilers' Connor McDavid signs his new contract.
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What is important to note is that while the cap hits are significant, the rising cap means that their cap percentage will look relatively normal in the future. For example, if the cap raises to $120 million for the 2028-29 season, the cap percentage on a $17 million cap will be around 14.1%, which is less than Draisaitl's current cap hit. Yes, the cap hits are significant, but by the time Kaprizov's contract hits his final year, he may not even have a top-30 contract in the league.
While it was always known that Vancouver was going to give a blank cheque to Hughes, today's new contract opens a larger door for the former Norris winner. Regardless of whether it is a short-term or long-term deal, it is hard to imagine that Hughes' new cap hit will be anything lower than $16 million. Ultimately, it is a new day in the NHL, as superstars like Hughes will receive contracts that were only dreamed of a decade ago.
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