The beginning of NHL preseason isn’t usually the time for trade speculation—certainly not for star players unless there are special circumstances such as a contract dispute. But the rumor mill felt an unexpected ripple recently when The Athletic’s Mark Lazerus linked Minnesota winger Kirill Kaprizov to the Chicago Blackhawks, saying that Kaprizov “wants to come to Chicago” in 2026 when the Russian winger becomes an unrestricted free agent.

Lazarus later clarified that initial comment with a more nuanced and careful follow-up.

Let me clarify, please: I reported back in June that the Blackhawks see Kaprizov as a potential big add in two years, this generation's Marian Hossa, so to speak. Is Kaprizov intrigued by the possibility? Sure. Does he "want" it now? No. I misspoke extemporaneously on the pod. https://t.co/Khc8t16tpC

— Mark Lazerus (@MarkLazerus) September 25, 2024

The reporting maintains that Chicago has its eyes on Kaprizov as an option down the road and that interest appears to be mutual, at least to some extent. It can be difficult to gauge these situations because much can happen in two years, and the NHL’s tampering rules would prevent any sort of overt public courting. Still, this type of situation isn’t unique. There were signs years in advance that Adam Fox would leverage his way to the New York Rangers, for instance.

Even if a trade were to pre-empt a free agency move in 2026, it’s highly unlikely one would occur this season. And to be clear, Kaprizov is still very much in Minnesota and may remain there long-term. But while most teams are primarily focused on just getting through training camp and figuring out the very beginning of the 2024-25 season, a theoretical move of this magnitude does not happen overnight and would require planning in advance by both teams.

With that in mind, it’s worth analyzing the trajectories for both teams over the next two seasons, the future fit for Kaprizov in Minnesota or, if not, Chicago, and what a trade might look like if the winds increasingly signal mutual interest between Kaprizov and the Blackhawks.

Does Kaprizov Make Sense in Minnesota Long-Term?

The Wild sit firmly in the middle class of the NHL. Though they missed the playoffs last season, they finished with a respectable 87 points and made the playoffs each of the previous three seasons.

They also have not won a division title or playoff series in Kaprizov’s four NHL seasons. Cap constraints caused by the Zach Parise and Ryan Suter buyouts and a few problematic contracts have left the team more or less as-is; a team with a high floor but a low ceiling. They’ll compete every night and could make the playoffs, but that’s where expectations stop. That has been true the past few seasons and will be true in 2024-25.

But this is about the summer of 2026, and there are good reasons for the Wild to be optimistic about where they are headed as a franchise. Even excluding Kaprizov, Minnesota has a healthy young core to fall back on. Joel Eriksson Ek and Matthew Boldy will be fixtures in the top six for the next five-plus years. Brock Faber is already one of the NHL’s best shutdown defensemen at 22 years old.

And there’s a lot of talent simmering beneath the surface. The Wild have one of the league’s best prospect pools, including the league’s best goaltending prospect, Jesper Wallstedt.

Most importantly, the financial handcuffs will finally be gone in 2026. The combined $14.74M cap penalty from the Parise and Suter buyout will drop down to $1.67M in July 2025. The Wild will have significant room to not only pay Kaprizov what he wants, but also to add other talented players to the roster that would supplement a bevy of young players on cheap contracts.

There is viable path forward in which the Wild move from NHL purgatory to one of the top teams in the league by 2026. However, that future is purely theoretical and dependent on a lot of heavy lifting. Money won’t be an obstacle in Minnesota, but they may have to convince Kaprizov of their long-term vision and ability to execute some monumental maneuvering to add high-end talent and become a top team.

Where Would Kaprizov Fit in Chicago?

If Kaprizov is, in fact, directing his attention toward the Windy City then only he knows why.

There is one obvious factor that would influence just about any player. Chicago would be signing Kaprizov to play on the first line and, thus, alongside center Connor Bedard. What the 2023 first-overall pick did in Chicago last season was nothing short of incredible. Playing on a team whose best players would struggle to crack the lineup of a Stanley Cup contender, the 18-year-old managed to total 61 points in 69 games.

A 21-year-old Bedard will be, at worst, a top-three offensive center in the NHL. Put any sort of legitimate NHL talent on his wings and that line is going to score at will. If it’s not Kaprizov, then it will be some other All-Star.

The appeal of Kaprizov in particular is mouth-watering, though. The left-winger is one of the few players in the league whose hands are in the same solar system as Bedard’s. Both are dual threats, but Kaprizov errs towards playmaker while Bedard prefers to shoot. They are individually brilliant at manipulating defenses. Together? They’d be exceptionally difficult to stop.

And while the Blackhawks are in a true rebuild, it won’t take long for them to rise up the ranks. GM Kyle Davidson has just two forwards under contract beyond 2026 and just one beyond 2027. The Blackhawks are well-positioned to take their lumps for one or two more seasons and then make some titanic additions. There are a number of good prospects in the system but everything starts with Bedard. He will dominate and players will rush to join him—not to mention the allure of playing in a major metropolitan market. If and when Kaprizov does jump at the chance to move to Chicago, he won’t be the only notable player to do so.

An Early Attempt at Framing a Trade

The discussion of a Kaprizov move to Chicago should not overrepresent the possibility that it happens. Again, Kaprizov is two years away from free agency and there are no indications he wants out of Minnesota. To the extent that this becomes a problem for the Wild, it’s not one they’re going to worry about until next June at the earliest.

But Minnesota should get a good idea of Kaprizov’s future one way or another next summer based on how willing he is to engage in negotiations for a new contract. If Kaprizov is anything less than eager to stay, then they’ll have no choice but to explore their trade options.

What would a begrudging swap with Chicago look like? Returns are historically all over the place in this type of situation; Matthew Tkachuk garnered Calgary numerous impact NHLers, while Alex DeBrincat went to Detroit purely for draft picks.

A reliable anchoring point is a first-round pick, a very good (not great) prospect, a young NHLer, and another draft pick.

This exercise requires projecting out from a year, but the Blackhawks have several prospects who fit the bill. The two Minnesota might hold out for are Frank Nazar and Oliver Moore. Both are top forwards recently drafted with high picks and who have uncertain futures at center or wing. But let’s focus on Moore. The 19th overall pick in 2023, Moore is a high-end skater and clever playmaker who is a Minnesota native. He is likely to have a future in the NHL as a middle-six, two-way forward with a unique skating ability.

As for young roster players, the Blackhawks lack any that immediately stand out as valuable trade bait. There are a few who could earn that distinction this season. Wyatt Kaiser and Ethan del Mastro, both defensemen, fit the profiles as players who could carve out NHL careers and provide value long-term but as depth pieces. Expect to see both feature in Chicago’s top-six this season.

Could Moore, a young depth defenseman, a first-round pick, and a third-round pick be enough to land Kaprizov in Chicago? In truth, this is probably putting the cart before the horse. Kaprizov is in Minnesota and any material reality of a future elsewhere is purely hypothetical at the moment. If he does indicate a desire to move on, then the circumstances of the moment will dictate the nuances of what a trade might look like.

For now, we can safely project that the Blackhawks would have to give up multiple high-end pieces. But those would be pieces they could afford to give up in order to give their franchise center a true superstar like Kaprizov on his wing.