Why Kraken’s new deal with Kaapo Kakko is a bet on upside

The Seattle Kraken announced Tuesday they signed forward Kaapo Kakko to a three-year, $13.575 million contract that will pay him an annual average value $4.525 million through the 2027-28 season.

The deal comes after Kakko, the 2019 No. 2 overall pick, was traded to the Kraken from the New York Rangers last December. In 2024-25, Kakko finished with 14 goals and 30 assists for 44 points in 79 regular-season games. Now entering his seventh NHL campaign, Seattle is betting that the one-time blue chip prospect in Kakko will evolve into the top-line producer scouts envisioned when he was drafted.

On Wednesday’s episode of Daily Faceoff LIVE, Tyler Yaremchuk and Matt Larkin discuss the Kraken’s latest signing and what Seattle needs to do if they want to climb out of the NHL’s murky middle.

Tyler Yaremchuk: What I like about this is that it’s an upside bet for the Kraken. I feel like this has been yet another summer where they aren’t taking enough upside bets, going and signing a guy like Ryan Lindgren. I applaud them for doing this, I just think they need to do more of it.

Matt Larkin: I couldn’t agree more. I have had a hard time understanding what the Kraken have been doing the last couple offseason. I thought bringing in Jason Botterill would change, because you’re pivoting to a different general manager, but they’re still doubling and tripling down on mid. Mason Marchment, Frederick Gaudreau, Ryan Lindgren, this is a team that just seems to want to live in that murky middle.

I’ve said many times: they were hurt by making the playoffs in their second season. It elevated expectations, they couldn’t build out their farm system. You need to have a base of young talent. That’s why I do like this bet on Kaapo Kakko.

You can watch the full segment and the rest of the episode here…