The Minnesota Wild’s offseason has narrowed to one huge question: can they keep Quinn Hughes, and at what price?
For weeks, the talk around Minnesota had centered on Dylan Larkin, but that path appears to be closed off for the rest of the offseason after the Red Wings demoted Steve Yzerman and derailed the progress he and Wild president of hockey ops Bill Guerin had made in trade discussions. That leaves Hughes as the franchise’s clear priority, and the longer his extension sits unsigned, the louder the noise gets.
Hughes became eligible for a contract extension on July 1. Seven weeks later, the 26-year-old superstar is still not locked in beyond 2026-27, and the delay has started to ripple beyond Minnesota. Other teams and national media have begun to pay attention to what’s unfolding in the State of Hockey.
Local insider Michael Russo tried to ease some of that concern this week on his podcast, “ Worst Seats in the House.” Even so, he made clear the number to keep Hughes in Minnesota is climbing fast. On Saturday, Russo took that reporting further at The Athletic, saying the deal could rise as high as $20 million per year.
“If Hughes got the same percentage in Year 1 of his deal [as Kaprizov], that’d be a roughly $18.5 million average annual value. If he wanted a bigger slice of the cap as one of the two top defensemen in the NHL, we’re talking in the $19 million range.
With Hughes and Cale Makar also about to set a new market for top blue liners, perhaps one even becomes the league’s first $20 million player.”
That kind of money would be a massive shift from what Minnesota expected when the season ended. At that point, neither Hughes nor the Wild appeared to think negotiations would become a problem.
He has a personal connection with Guerin through USA Hockey, and by all accounts he settled in well with his new teammates and in the Wild locker room. Hughes also knows exactly what Minnesota gave up to get him, with Guerin sending most of the team’s best prospects and most talented young skaters to Vancouver for the 26-year-old defenseman.
Russo’s league sources still believe Hughes wants to sign an extension. But the market has changed in a way that is making this far tougher for the Wild than anyone anticipated.
“The majority of you are still convinced Hughes will extend. According to multiple league sources, speaking on the condition of anonymity to address negotiations that aren’t public, that’s his intention. But the market turning upside down has made this a lot harder than the Wild anticipated.”
There’s a reason Minnesota is pushing so hard here. Hughes is the kind of defenseman who changes everything.
He drives the puck like a point guard running the offense from the blue line, and the Wild have built their short-term plans around him as the centerpiece. Last season, he posted 53 points in 48 games with Minnesota.
If he can stay healthy and play 84 games next year, he would have a real shot at becoming the first defenseman in Wild history to hit 100 points.
And if Guerin can’t get this done, the fallout would be severe for both the team and his standing as an NHL executive.
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