Guerin said last month that he's "confident" the team will re-sign Hughes to a contract, which would begin next season.
"That's the luxury I have of being on the inside," Guerin said on "Judd's Hockey Show" on SKOR North Radio from the Minnesota State Fair on Aug. 31. "There's always the other side of it. I can be confident, you can be insecure, you just have to work through the process of the negotiations, figuring out what the player wants, what it will take to keep him, make him happy."
NHL training camps open in a week. Hughes can sign an eight-year contract with the Wild through Sept. 15. The new Collective Bargaining Agreement kicks in on Sept. 16, and when it does, the maximum term for players re-signing with their current teams will go down to seven years, and six years for players signing as unrestricted free agents.
Hughes is expected to command an annual salary similar to or greater than the League-record $20.4 million AAV that defenseman Cale Makar received in the eight-year, $163.2 million contract he signed with the Colorado Avalanche on Aug. 28.
"I mean, me and Billy are working through it right now and same with (agent) Pat (Brisson)," Hughes said. "There's been an open line of communication. I think last summer was probably a lot, it was a heavy summer, and then I got traded and then we had the Olympics and I moved and we had Minnesota in the playoffs. I feel like in the last 16-18 months there was a lot of stuff going on, and I think this summer was really good for me. It was light.
"… Obviously, I trained extremely hard and I feel like I'm in top shape, but I guess as we're getting going now, I got to Minnesota a couple days ago, we'll start figuring it out."