Last week, the NHL landscape was changed. Again. This time by Cale Makar.
The Colorado Avalanche signed Makar to an eight-year extension worth a whopping $20.4 million per season, making him the highest-paid player in league history and the NHL’s first $20 million player.
For most NHL fanbases, that news was simply another reminder that Makar is one of the best players on the planet.
For Wild fans? It immediately shifted the conversation back to Quinn Hughes. Because here we are, a few weeks away from training camp, and the most important contract negotiation, arguably in franchise history, still sits unresolved.
The Lack of an Extension is Noticeable
Let’s start with the obvious. No, I did not expect Hughes to sign an extension on July 1. Not even close. These types of negotiations take time when you’re talking about a franchise player who may become the highest-paid defenseman in hockey.
But I’ll admit something else. I also didn’t expect us to be sitting here this deep into the offseason with seemingly little public progress and training camp rapidly approaching. At some point the absence of news becomes news.
That doesn’t mean negotiations are going poorly. It simply means the situation deserves attention.
The Kaprizov Comparison Only Goes So Far
One of the most common responses from Wild fans has been: “Remember when Kaprizov didn’t sign until right before camp?”
That’s true. Kaprizov’s extension wasn’t finalized until the eve of training camp. The difference is the circumstances were completely different.
Kaprizov’s agent, Paul Theofanous, has a long-standing reputation as one of hockey’s toughest negotiators. Nobody squeezes more money out of a contract than Theofanous.
By contrast, Quinn Hughes is represented by Pat Brisson, who is widely viewed around the league as someone with strong relationships throughout hockey and someone who has reportedly had a good relationship with Bill Guerin.
In theory, this should have been a smoother negotiation. In theory.
The Devils Are the Elephant in the Room
Let’s address the thing every Wild fan is thinking about. The Hughes brothers. Everybody knows the story by now. Quinn, Jack, and Luke have openly discussed the desire to play together at some point in their careers. Nobody disputes that. If Quinn Hughes wakes up tomorrow and decides he wants to play with both of his brothers as soon as possible, there isn’t much Minnesota can do about it. He’s the one holding that leverage.
The Devils fanbase talks about this possibility approximately every seven seconds on Twitter. Based on some of the conversations online, you’d think Quinn is already shopping for homes in New Jersey.
And to be fair, there is logic behind the concern for Wild fans. If Quinn declines an extension now, he could position himself to join both brothers much sooner than if he signs a commitment with Minnesota. That’s a real possibility. Pretending otherwise is simply denial.
But Here’s Why I’m Still Relatively Optimistic
The people closest to the situation continue to tell a different story. Michael Russo has repeatedly stated, both in his reporting and on multiple podcasts, that the Wild have received every indication so far that Quinn Hughes would like to remain in Minnesota.
That doesn’t mean a deal is done. It doesn’t mean an extension is imminent. It simply means the public panic doesn’t currently match the information being reported by the people closest to the situation. If Russo suddenly started reporting that communication had broken down or that Hughes was refusing to engage in negotiations, I’d be much more concerned.
That hasn’t happened. At least not yet.
The Entire Superstar Market Changed This Summer
Personally, I don’t think the lack of an extension has much to do with one specific contract. I think it has everything to do with what happened to the superstar market as a whole this offseason.
It started with Leo Carlsson. When Philadelphia handed Carlsson an offer sheet worth $18 million annually, and Anaheim matched it, the market immediately changed. Whether people agreed with the number or not became irrelevant. The contract existed, and every superstar negotiation around the league had to acknowledge it.
Then came Macklin Celebrini. The Sharks signed Celebrini to an extension carrying an $18.8 million cap hit, pushing the market even higher. Again, whether you believe Celebrini is already worth that amount isn’t really the point. The point is that another superstar now had a contract establishing a new benchmark.
And finally came Cale Makar. Colorado made Makar the first $20 million player in NHL history, signing him to an eight-year deal carrying a $20.4 million cap hit.
Viewed individually, each deal is significant. Viewed together, they completely reshaped the landscape. That’s why I’ve never completely bought the idea that the lack of a Hughes extension automatically means something is wrong.
Imagine you’re Bill Guerin and the Wild front office. You spend months building a framework for what a Quinn Hughes extension might look like.
Then Carlsson signs. Then Celebrini signs. Then Makar signs.
Suddenly, every comparable contract in the league is changing in real time. It’s not difficult to imagine both sides needing to reassess where the market is headed and what a fair deal actually looks like. Because let’s be honest. Any dreams of signing Quinn Hughes for something close to Kirill Kaprizov’s $17 million cap hit probably disappeared weeks ago.
Quinn Hughes and Cale Makar occupy the same tier of player. Perennial Norris Trophy candidates. Franchise players. Players who fundamentally change the direction of an organization.
Once the market established that players of that caliber are pushing toward and beyond the $20 million threshold, it became obvious that Hughes’ number was going to rise right alongside it.
That’s why I think the current situation is less about New Jersey and more about economics. The Wild and Hughes may very well want the same thing. The challenge is determining what “market value” even means when the market itself has been changing all summer.
Carlsson moved the market. Celebrini moved it further. Makar blew it up entirely.
The Bottom Line
Should Wild fans be concerned? Absolutely.
A player of Quinn Hughes’ caliber remaining unsigned this close to training camp deserves attention. And until he puts pen to paper, the worry is real.
Should Wild fans be panicking? Not yet. The reporting surrounding Hughes continues to be far more optimistic than the discourse taking place online.
Like it or not, Quinn Hughes has reached the point where Minnesota probably needs to let him determine the price and likely even the term. As I’ve written previously, I believe Quinn Hughes is the most irreplaceable player on the roster.
If the holdup is a few million dollars per season, the Wild need to simply pull the trigger and get the deal done. If the holdup is that Quinn Hughes genuinely doesn’t know whether he wants to spend the next several years in Minnesota? That’s a completely different conversation. And that’s the scenario Wild fans should be worried about.
I think the Makar extension will get things moving now. The market has been set, although likely at a number higher than Billy G was maybe anticipating…