I'd imagine it comes down to whether Hanifin and his agent are willing to go long-term at a reasonable figure, or if they're after huge money via a cheaper, short-term bridge contract...then a renegotiation in a year or two.
If you're going to go long-term, i'd think he comes in somewhere between Slavin ($5.3 x6) and Pesce ($4.025 x6). Not so much because he's
better than Pesce currently, but because he's got that high pick leverage that always impacts things, along with a significantly higher point-producing upside. Which puts it pretty squarely in the sort of ballpark of that Mike Matheson ($4.875 x8) deal in Florida, which was also a real "projection contract" gamble of a deal. Projecting that he'd live up to it, more so than having fully earned it at the time.
But then, i could certainly see Hanifin's camp wanting to push that $$$ figure even higher, under the presumption that he's going to continue to improve substantially and has that high pick "upside" to push well into the other side of $5M. In which case...that starts to become a mighty big gamble. If that's where it goes, it seems like one that could end up in a bridge situation, more in the $3M x 1-2 years sort of range. Back to the bargaining table at the end of that where he may think he's got a shot at cracking $6M from there pending his play, where the cap goes, and what sorts of insane new precedents are set with Karlsson and Doughty contracts at the very top of the market.