Minnesota Wild star Kirill Kaprizov has turned down a record-setting contract extension offer, according to an NHL insider.
The offer was believed to be for eight years at $128 million, Frank Seravalli reported, and would have made him the leader in cap hit ($16 million), passing the $14 million that Edmonton Oilers center Leon Draisaitl will receive starting this season.
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The total amount would also pass the 13-year, $124 million contract that Washington Capitals winger Alex Ovechkin signed in 2008.
Kaprizov, 28, who currently has a $9 million cap hit, can become an unrestricted free agent after the 2025-26 season. His average of 1.21 points per game ranks first in franchise history and he has had three seasons of 40 goals or more.
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NHL players on the move in the 2025 offseason
Forward Mitch Marner joined the Golden Knights in a sign-and-trade.
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NHL players on the move in the 2025 offseason
Forward Mitch Marner joined the Golden Knights in a sign-and-trade.
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NHL players on the move in the 2025 offseason
Forward Nikolaj Ehlers signed with the Hurricanes.
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NHL players on the move in the 2025 offseason
Mikael Granlund signed with the Ducks.
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NHL players on the move in the 2025 offseason
Defenseman Vladislav Gavrikov signed with the Rangers.
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NHL players on the move in the 2025 offseason
Forward Pius Suter signed with the Blues.
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NHL players on the move in the 2025 offseason
Defenseman Nate Schmidt signed with the Mammoth.
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NHL players on the move in the 2025 offseason
Forward Jonathan Drouin signed with the Islanders.
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NHL players on the move in the 2025 offseason
Corey Perry signed with the Kings.
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NHL players on the move in the 2025 offseason
Defenseman Brent Burns signed with the Avalanche.
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NHL players on the move in the 2025 offseason
Connor Brown signed with the Devils.
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NHL players on the move in the 2025 offseason
Forward Evgenii Dadonov signed with the Devils.
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NHL players on the move in the 2025 offseason
Forward Christian Dvorak signed with the Flyers.
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NHL players on the move in the 2025 offseason
Defenseman Ryan Lindgren signed with the Kraken.
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NHL players on the move in the 2025 offseason
Forward Tanner Jeannot signed with the Bruins.
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NHL players on the move in the 2025 offseason
Forward Gustav Nyquist signed with the Jets.
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NHL players on the move in the 2025 offseason
Defenseman Cody Ceci signed with the Kings.
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NHL players on the move in the 2025 offseason
Defenseman Brian Dumoulin signed with the Kings.
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NHL players on the move in the 2025 offseason
Forward Nico Sturm signed with the Wild.
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NHL players on the move in the 2025 offseason
Forward Jeff Skinner signed with the Sharks.
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NHL players on the move in the 2025 offseason
Forward Nathan Bastian signed with the Dallas Stars.
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NHL players on the move in the 2025 offseason
Forward Victor Olofsson signed with the Colorado Avalanche.
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NHL players on the move in the 2025 offseason
Defenseman Travis Hamonic signed with the Red Wings.
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NHL players on the move in the 2025 offseason
Forward Hudson Fasching signed with the Columbus Blue Jackets.
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NHL players on the move in the 2025 offseason
Defenseman Noah Dobson was traded to the Montreal Canadiens.
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NHL players on the move in the 2025 offseason
Defenseman Matt Dumba was traded to the Pittsburgh Penguins.
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NHL players on the move in the 2025 offseason
Defenseman K’Andre Miller was traded to the Hurricanes.
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NHL players on the move in the 2025 offseason
The Canucks traded goalie Arturs Silovs to the Penguins.
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NHL players on the move in the 2025 offseason
Forwards Miles Wood (28) and Charlie Coyle (10) were traded to the Blue Jackets.
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NHL players on the move in the 2025 offseason
Forward Mason Marchment was traded to the Kraken.
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NHL players on the move in the 2025 offseason
Forward Viktor Arvidsson was traded to the Bruins.
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NHL players on the move in the 2025 offseason
Goaltender John Gibson was traded to the Red Wings.
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NHL players on the move in the 2025 offseason
Forward Chris Kreider was traded to the Ducks.
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NHL players on the move in the 2025 offseason
Forward Ryan Reaves was traded to the Sharks for defenseman Heny Thrun.
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NHL players on the move in the 2025 offseason
Forward Evander Kane was traded to the Canucks.
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NHL players on the move in the 2025 offseason
Forward JJ Peterka was traded to the Mammoth. Michael Kesselring and Josh Doan went to the Sabres in the trade.
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NHL players on the move in the 2025 offseason
Goaltender Alex Nedeljkovic was traded to the Sharks.
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NHL players on the move in the 2025 offseason
Forward Trevor Zegras was traded to the Flyers.
NHL’s highest-paid players
The NHL has had a new highest-paid player for three seasons in a row, with Colorado’s Nathan MacKinnon ($12.6 million) passing Edmonton’s Connor McDavid ($12.5 million) in 2023-24 and Toronto’s Auston Matthews averaging $13.25 million last season. Draisaitl passed Matthews this season.
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That should continue with the salary cap going up and the caliber of players in next summer’s UFA class.
That group, in addition to Kaprizov, includes McDavid and Vegas’ Jack Eichel.
Starting in July, the maximum contract length for re-signing a player will be seven years.
This article originally appeared on USA TODAY: Wild’s Kirill Kaprizov rejects record contract extension, per report