As is, if Parise retires before his final year, the Wild would have a 19.37M charge against the cap. My understanding is that the new CBA would not allow a greater charge than his regular AAV(7.5M?) per year. Not sure if that means they would break up the charge into two 7.5M chunks, then the remaining 4.37 over the next three years, or if they could spread the charge out over 10 more years after his retirement at 1.937M per, which would be much preferable. Deferred payment is always the way to go, as long as penalties are not involved.
If it's the former situation it is still not great, but at least not the ruinous 19.37M.
I think it's more likely that he retires two years before, when his salary is down to a measly 1M in real money. Cap recapture would be somewhere around 9.5 M. If that could be spread out over two years at a minimum...it's ok. More than two years even better.