The Blackhawks enter the first full day of training camp Thursday with a number of interesting things going on but nothing earth-shattering to discuss.
The same cannot be said about their division rivals to the north, the Wild, who are reckoning with a firestorm of speculation and anxiety surrounding their cornerstone star, forward Kirill Kaprizov.
Since insider Frank Seravalli first reported last week that Kaprizov rejected an eight-year, $128 million contract offer from the Wild that would’ve made him the highest-paid player in NHL history, the entire league has become laser-focused on the tense situation brewing in Minnesota.
Kaprizov, a pending free agent in 2026, might speak publicly for the first time Thursday about his decision and his desires moving forward.
In the meantime, the hockey world continues to contemplate a number of open-ended questions, seeking to determine exactly why Kaprizov rejected that offer.
Is Kaprizov willing to re-sign with the Wild but only for a shorter term or a higher salary? That initial offer would’ve carried a salary-cap hit of $16 million per year. Does he believe he deserves — or could get an offer — in the $18 million-$20 million range?
Alternatively, could Kaprizov be losing faith that the Wild — who are 0-4 in playoff series during his tenure — are capable of building a Stanley Cup contender around him? Or could he be tired of St. Paul as a city and eager to move to a bigger market?
And from the Wild’s perspective, even if Kaprizov is willing to stay, is general manager Bill Guerin willing to go short-term and/or increase his offer into the $18 million-$20 million range? Is there a maximum amount he won’t surpass?
If Kaprizov wants out, or the Wild aren’t willing to meet his demands, they might have no option except to trade him during the season instead of risking him walking for nothing next summer.
And that’s why the Hawks should be monitoring the situation especially closely. If Kaprizov does hit the market, they’ll be one of the best-positioned teams to attempt to acquire him, and doing so would rapidly transform the outlook of their rebuild.
Kaprizov is a game-breaking star who ranks 15th in the NHL in total points (386) and 10th in points per game (1.21) since jumping over to North America in 2021. He’s a natural left winger, so he would fit perfectly alongside Connor Bedard — a deadly tandem that would elevate both of their production.
The Hawks also have only $46.6 million committed for 2026-27, per PuckPedia, giving them an estimated $57.4 million of space beneath the NHL’s skyrocketing cap — the second-most cap space in the league. Bedard’s next contract will take up a chunk of that, but they could easily fit Kaprizov in, too.
The Hawks only have future-oriented assets (prospects and picks) to offer in trade negotiations, and those didn’t appeal much to the vast array of trying-to-win-now teams this past offseason. But if the Wild lose Kaprizov, their wisest next move would be a full rebuild, so future-oriented assets could appeal to them then.
Hypothetical betting lines for Kaprizov’s next team list the Hurricanes as a slight favorite with the Hawks and Red Wings right behind them. The Rangers have been suggested as a logical destination, too.
Realistically, Kaprizov eventually signing long-term with the Wild remains the most likely outcome, so he’s little more than a pipe dream for any of those clubs.
The Athletic’s Pierre LeBrun reported Wednesday the Wild haven’t begun considering a trade. They’ve neither engaged with other teams nor asked Kaprizov, who has a full no-movement clause, for a list of teams to which he would accept a trade.
Nonetheless, Hawks GM Kyle Davidson should at least keep in contact with Guerin and monitor the situation.
