Navigating the salary cap is one of the most important tasks for a front office.  Teams that can avoid total cap chaos by walking the tightrope of inking players to deals that match their value (or compensate for future value without breaking the bank) remain successful.  Those who don’t often see struggles and front office changes.

As we do each year, PHR will look at every NHL team and give a thorough look at their cap situation for the 2026-27 season, though in a slightly different format than before.  This will focus more on players who are regulars on the roster versus those who may find themselves shuttling between the AHL and NHL.  All cap figures are courtesy of PuckPedia.  We begin our series with a look at the Central Division, next up is the Wild.

2026-27

Upper Limit: $104MM
Current Cap Charge: $102,847,499
Cap Space: $1,152,501
Potential Bonuses: $2.1MM (less than half is likely to be achieved)
Dead Cap: $1,666,666 (buyouts of Zach Parise and Ryan Suter, $833,333 each)

Expiring Contracts (RFA): F Bobby Brink ($2.75MM), F Max Shabanov ($1.6MM), G Jesper Wallstedt ($2.2MM)

Brink was non-tendered by his hometown team after a disappointing stint to end the season but that was more to get around arbitration eligibility as he quickly re-upped with the Wild.  He’s banking on a bounce-back campaign which could give him a shot at doubling this if all goes well.  But if it’s another 30-point effort, his earnings upside won’t be too much higher than this.  Shabanov was non-tendered by the Islanders after an underwhelming first NHL season.  Formerly a top scorer in the KHL, he could be back there in 2027 if he has a repeat performance next season.  It’s hard to see him breaking out enough to command big money but if he holds down a steady spot in the lineup and has some success, he could jump up to where Brink is.

Wallstedt receiving this salary despite limited action raised some eyebrows but it wound up being quite the bargain last season as he battled for the starting role.  A repeat showing this season could have him pushing for something closer to the $7MM range with arbitration rights next summer.

Expiring Contracts (UFA): D Zach Bogosian ($1.25MM plus $100K in GP bonuses), F Blake Coleman ($2.45MM*), F Nick Foligno ($900K), F Ryan Hartman ($4MM), D Quinn Hughes ($7.85MM), D Daemon Hunt ($900K), G Calvin Pickard ($1MM), D Jared Spurgeon ($7.575MM), F Nico Sturm ($2MM)

*-Calgary is retaining an additional $2.45MM on Coleman’s contract.

Aside from 2021-22, Hartman hasn’t been a top-line scorer but he has passed the 20-goal mark in two of the last three seasons while bringing grit and versatility to the table.  The fact he’s a center really boosts his value to the point where he should push past the $6MM mark on a medium-term deal next summer.  Coleman came over from Calgary this summer and there are some similarities to Hartman in that he had one outlier year offensively but contributes enough secondary scoring, grit, and versatility to put him in the $6MM range on his next contract.

Sturm’s faceoff prowess earned him his current deal but he didn’t produce much in the first year of it.  A full-time fourth liner, he may have a hard time matching this unless he improves his production this coming season.  Foligno was thought to be mulling over retiring but sticks around to play a full season with his brother.  At this point, given his age (38) and projected limited role, he probably won’t command much more than this next summer if he wants to keep playing.

Hughes is the big-ticket player GM Bill Guerin has to contend with and talks about a new deal are already underway.  It’s widely expected that he’ll become the top-paid defenseman in the NHL with his next contract and jumping into Kirill Kaprizov’s price range ($17MM) is realistic given his importance to the Wild and his stature around the league.  Minnesota would love to sign him long-term but his camp seems to prefer something shorter-term, giving him a bit more flexibility and a chance to cash in a few years from now when the salary cap is even higher. Talks started last month on an extension but nothing is in place yet although it took quite a while for Kaprizov to sign last year as well.

Spurgeon was a top-pairing player for several years for Minnesota but he’s starting to slow down.  Turning 37 in November, he’ll be more of a fourth or fifth option on his next deal, one that will be a short-term pact.  He’s a candidate for a bonus-laden one-year deal if he re-signs to give the Wild some flexibility while a two-year pact could come in around half of his current price tag.  Bogosian (who hits his bonuses at 60 GP) is more of a seventh option at this point near the end of his career.  Hunt is still early in his career but is also closer to a seventh defender than a full-timer.  Accordingly, their next contracts are likely to stay close to the minimum.

Pickard signed as injury insurance and is likely AHL-bound at some point but has enough of a track record to stay around this price point as a third-stringer moving forward.

2027-28

Projected Upper Limit: $113.5MM
Current Cap Charge: $67,522,499 (11 players signed)
Cap Space: $45,977,501
Potential Bonuses: $2MM (no more than half would be realistic)
Dead Cap: $1,666,666 (buyouts of Parise and Suter) and there’s a chance of a bonus carryover penalty from 2026-27

The good news for the Wild is that they can easily afford to keep Hughes in the fold, though it will come at the expense of some of their depth.  If he signs in the $17MM range, they’d be looking at having around $2MM to $2.25MM per roster spot to fill out their group.  And that’s before a big-ticket contract for Wallstedt.  That could put the squeeze on keeping some of their other veterans like Hartman, Coleman, and Spurgeon.

Expiring Contracts (RFA): F Danila Yurov ($972,500 plus $2MM in bonuses)

Yurov’s first NHL season was decent.  He was eased in with a bottom-six role which resulted in his bonuses not being reached.  Barring a big increase in ice time, he’s unlikely to reach most of his bonuses over these next two years either.  At this point, he profiles as a candidate for a bridge deal which, given the state of the market, could still check in around the $4MM mark.

Expiring Contracts (UFA): D Jonas Brodin ($6MM), F Marcus Foligno ($4MM), D Olli Maatta ($3.5MM), F Yakov Trenin ($3.5MM)

Foligno’s market will be stronger than his brother’s but perhaps not by much.  He’ll be entering his age-37 year on his next contract and with Minnesota’s depth, he may be seeing fourth-line minutes regularly over the next couple of seasons.  That could have him making closer to half of his current price tag on his next deal.  Trenin signed this deal two years ago, one that looked like an overpayment immediately.  While he is one of the most physical players in the league, he doesn’t bring much offensively to the table.  That said, his physicality could give him a chance to come in around this price point again.

Brodin has been a reliable shutdown player for 14 seasons now but his offensive limitations typically capped his earnings upside.  That should still the case in 2028 when he’ll be 35 but even so, a small raise could be doable on a short-term contract.  Maatta has been hit-or-miss in recent years.  When it’s the former, this price tag is reasonable but when it’s the latter, it’s an overpayment.  That makes projecting his next contract quite difficult.  If things go well with the Wild, he could get a pay bump.  If things don’t go well, his price tag could be cut by close to half.

2028-29

Forecasted Upper Limit: $123MM
Current Cap Charge: $49,549,999 (6 players signed)
Cap Space: $73,450,001
Potential Bonuses: None
Dead Cap: None

While next summer could be tough for Minnesota, they should have more flexibility when planning for this season with $17MM coming off the books and beyond Brodin, no big-ticket deals to sign.  This is a window where they could look to make a splash.

Expiring Contracts (RFA): None

Expiring Contracts (UFA): F Joel Eriksson Ek ($5.25MM)

While Eriksson Ek is not an ideal number one center, he has filled that role frequently and held his own while being a solid defensive player.  If the market continues on its current trajectory, it wouldn’t be shocking to see his camp push for around double his current price tag unless his production falls off over the next three seasons.

2029-30

Forecasted Upper Limit: $133.5MM (8.5% increase)
Current Cap Charge: $42,633,333 (6 players signed)
Cap Space: $90,866,667
Potential Bonuses: None
Dead Cap: None

A good chunk of the projected increase will go to Eriksson Ek if he re-signs but otherwise, they should have some extra wiggle room in this offseason.

Expiring Contracts (RFA): None

Expiring Contracts (UFA): F Matt Boldy ($7MM)

Boldy bypassed a bridge contract to sign long-term and the end result is that he is quite the bargain for a top-line winger.  At this point, it seems like he’s a safe bet to double this price tag (and potentially more) given that he’ll be 29 when his next contract begins.

Signed For 2030-31 And Beyond

For that season, there will be a new CBA in place so trying to forecast the cap and cap space basically becomes a guessing game.  Accordingly, we’ll go back to the old Deep Dive format for players signed beyond the 2030-31 campaign.

D Brock Faber ($8.5MM through 2032-33)
G Filip Gustavsson ($6.8MM through 2030-31)
F Kirill Kaprizov ($17MM through 2033-34)
F Michael McCarron ($3.33MM through 2031-32)

Kaprizov’s contract was the richest in league history, at least for a few months and really set the new standard for comparison.  There’s no denying that it was a huge price to pay but there’s no denying that he’s a top-end talent when healthy.  As the cap continues to rise, this won’t look quite as jarring but it’s also fair to say it won’t be viewed as a team-friendly pact either.  McCarron opted for long-term security with this deal while also securing a much higher payday than he had before.  It was a bit surprising at the time but after seeing some of the other deals handed out to players like him in free agency, Guerin read the market fairly accurately.

Faber had his best offensive showing last season while continuing to log heavy minutes.  If he stays around 50 points and 24 minutes per game moving forward, he could be in a position to double his price tag on his next contract.

Gustavsson signed an early extension last year, one it’s fair to wonder if Minnesota might want a mulligan on, knowing the year Wallstedt had and the contract that will be coming his way.  At his best, he’s a solid starter but in two of the last three years, he has been more of a mid-to-lower-tier one.  A repeat showing of 2025-26 moving forward would allow the Wild to get an okay return on the contract but with Wallstedt’s deal looming, can they afford to keep both?

Outlook

Things have been tight cap-wise for the Wild for a while now and that should continue for a couple more years at least.  However, they have the cap room to keep Hughes in the fold and sign at least most of their other core players.  However, it may take a bit before they can add another core piece to their group.

Photo courtesy of Nick Wosika-Imagn Images.