The Minnesota Wild have been living in a self-imposed purgatory for what feels like an eternity. If you follow the team, you know the deal. Bill Guerin made the franchise-altering decision to buy out Zach Parise and Ryan Suter back in 2021, and ever since, the mn wild cap space situation has been the single most discussed—and cursed—topic in the State of Hockey.
It’s been brutal.
For the last few seasons, the Wild have been playing with one hand tied behind their back, lugging around nearly $15 million in "dead money" that goes to players who aren't even in the locker room. That is a massive chunk of change. To put it in perspective, $14.74 million is roughly the equivalent of rosterring an elite first-line center and a top-pair defenseman. Instead, it’s just empty air on a spreadsheet. But the clouds are finally starting to break.
The Dead Money Era is Almost Over
Honestly, it’s a miracle the Wild have remained as competitive as they have. Most teams would bottom out and tank if they lost 15% of their spending power. But thanks to Kirill Kaprizov being a literal magician and some savvy drafting, they’ve stayed in the mix.
Here is the reality of the mn wild cap space right now: we are in the final year of the "mega-cap hit." For the 2024-25 season, the combined buyout hit for Parise and Suter remains at that staggering $14.74 million mark. However, when the clock strikes midnight on July 1, 2025, that number plummets.
It doesn't disappear entirely—don't get it twisted. The hits drop to about $1.66 million each ($3.33 million total) for the following several seasons.
Think about that jump.
Going from $14.7 million in dead air to $3.3 million is an instant "raise" of over $11 million. That is the moment the Minnesota Wild transition from a team trying to survive to a team that can actually go hunting in free agency.
Why 2025 is the Magic Year
The NHL salary cap is also rising. After years of being flat due to the pandemic, we’re finally seeing significant jumps. Reports from the league suggest the cap could hit $92 million or more by the 2025-26 season.
When you combine the rising league cap with the vanishing buyout penalties, Bill Guerin is going to be sitting on a mountain of cash. Estimates suggest the mn wild cap space could exceed $25 million to $30 million next summer, even after factoring in some of their current bridge deals.
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But there’s a catch. There is always a catch with this team.
The Kirill Kaprizov Factor
You can’t talk about Minnesota's finances without talking about the Russian superstar. Kaprizov’s current contract, which carries a $9 million AAV, expires after the 2025-26 season.
He is going to get paid. A lot.
If you think he’s staying for $9 million, you’re kidding yourself. He’s going to be looking for Auston Matthews or Nathan MacKinnon money. We are talking $13 million, maybe $14 million a year. So, while that "new" cap space looks fun and exciting, a huge portion of it is already mentally earmarked for #97.
The Wild also have to worry about Brock Faber. The kid is a stud. He’s already playing like a veteran top-pair defenseman, and his entry-level deal is ending. Guerin was smart to lock him up early with an eight-year extension worth $8.5 million annually, which kicks in for the 2025-26 season.
So, let's do some quick math.
Faber’s raise is coming. Kaprizov’s raise is looming.
Suddenly, that $11 million gain from the buyouts doesn't feel quite as massive, does it?
The Mid-Roster Crunch
The Wild have been forced to rely on "value" players. Think about guys like Freddy Gaudreau, Marcus Foligno, and Ryan Hartman. These guys are the heartbeat of the team, but they aren't superstars.
The problem is that the mn wild cap space has been so tight that they’ve had to fill the bottom half of the roster with league-minimum contracts and rookies who might not be ready. It’s why the depth has looked a bit thin lately. When you have no money, you can't afford a veteran fourth line that can actually shut people down. You end up playing kids from Iowa who are still learning which way is up.
What Most People Get Wrong About the Buyouts
I hear fans say all the time that Guerin "ruined" the team with those buyouts.
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That’s just not true.
The alternative was keeping Parise and Suter on the roster as their play declined while their locker room influence stayed... let's call it "complicated." By buying them out, Guerin cleared the deck for Kaprizov to become the undisputed leader. He bought a culture change. It cost a lot of money, sure, but you can't put a price on fixing a stale locker room.
The real genius—or gamble—was the timing. By front-loading the pain, the Wild ensured that their window of maximum flexibility aligns perfectly with the prime years of Matt Boldy and Brock Faber.
How the Wild Should Spend the New Money
So, once the mn wild cap space actually opens up, what do they do?
They need a center. A real one.
The Wild haven’t had a legitimate, elite 1C since... well, maybe ever? Mikko Koivu was great, but he was a defensive specialist. They need a playmaker who can take the pressure off Kaprizov. If a guy like Leon Draisaitl or a top-tier pivot ever actually hits the market (unlikely, but we can dream), Minnesota finally has the chips to play.
More realistically, they need to look at the secondary scoring.
- Shore up the second line so teams can't just triple-team Kaprizov.
- Fix the goaltending situation if Jesper Wallstedt isn't ready to be "The Guy" yet.
- Avoid overpaying for aging "grit" players.
The biggest trap the Wild could fall into is getting "rich man's syndrome." After years of being poor, it's tempting to go out and overpay for a 30-year-old winger who just had a career year. Guerin needs to stay disciplined.
The Prospect Pipeline is the Secret Weapon
The only reason the mn wild cap space hasn't completely sunk this team is the scouting department. Judd Brackett is a wizard.
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Because they have guys like Danila Yurov, Liam Ohgren, and Riley Heidt in the system, they don't have to spend $6 million on a free-agent winger. They can fill those spots with cheap, high-end talent. This is the "Tampa Bay model." You pay your superstars (Kaprizov, Faber, Boldy) and you fill the rest of the roster with ELC (Entry Level Contract) players who out-perform their pay grade.
If Yurov comes over from the KHL and plays like a top-six forward while making less than a million bucks? That is how you win a Stanley Cup in the salary cap era.
Current Financial Snapshots
Right now, according to PuckPedia and CapFriendly archives, the Wild are hovering right at the ceiling. They've used Long-Term Injury Reserve (LTIR) in the past to stay compliant, but that's a dangerous game. It prevents you from accruing cap space during the season, which means you can't add pieces at the trade deadline.
Basically, the 2024-25 season is the final year of the "tight belt."
Actionable Steps for Following the Wild's Finances
If you're trying to keep track of how this unfolds, don't just look at the total "Cap Hit" number. You have to look at the "Projected Cap Space."
- Watch the Trade Deadline: If the Wild are sellers this year, look for them to take on "bad" contracts from other teams in exchange for high draft picks. They have the space to do it for one year if they move some expiring deals.
- Monitor the Kaprizov Extension Talks: This will happen in the summer of 2025. Whatever that number is will dictate the team's ceiling for the next decade.
- Track the KHL: Keep a close eye on Danila Yurov’s production. His arrival is the "free" talent injection that makes the mn wild cap space issues irrelevant.
The "State of Hockey" has been patient. They've sat through the Parise/Suter era, the mediocrity of the mid-2010s, and the financial handcuffs of the last four years. The payoff is finally within sight. By this time next year, the Minnesota Wild won't be the team asking "can we afford this?" They’ll be the team saying "we want him, go get him."
It's a complete shift in power. For the first time in a generation, the Wild will be the ones holding all the cards in the Central Division.
To stay ahead of the curve, keep an eye on the official NHL salary cap announcements in early 2025. The difference between a $90 million cap and a $93 million cap is the difference between adding a decent middle-six forward and adding a legitimate star. Also, check the waiver wire during training camp; that's where the Wild have historically found their "stop-gap" players while waiting for the buyout money to fall off. The transition from "cap-strapped" to "cap-rich" is about to be the biggest storyline in Minnesota sports.