It's looking all but certain that the Wild will part ways with 2004 first-round pick A.J. Thelen. With Friday's 4 p.m. deadline to sign Thelen near, the Wild has not made an offer, Thelen's Calgary-based agent, J.P. Barry, said Thursday. "I haven't received any proposal yet, so we're not exactly sure where we're going," said Barry of CAA Sports. "If they want to do something, we'll talk to them. If not, we'll find a new team." If the Wild relinquishes Thelen's rights, it will receive the 42nd pick as compensation in next month's draft. "We're down to two days to go now, and obviously as the deadline gets close, the odds decrease that something will get done," assistant GM Tommy Thompson said from the NHL draft combine in Toronto. "When you draft a hockey player and develop him and establish a relationship with him as we've done with A.J., you'd like to see that player in your lineup as opposed to flipping him for more picks. "But a business decision will have to be made as to what the value is of the player and what the value is of the [compensatory] pick." Thelen, 21, a hard-shooting 6-3 defenseman from Savage, is coming off a strong postseason for the Memorial Cup champion Vancouver Giants. But the Wild has been disappointed with his development, and has admitted that it wished it had taken defenseman Andrej Meszaros with the No. 12 pick instead. The Ottawa Senators took Meszaros at No. 23. General Manager Doug Risebrough said, "If he was a priority signing, he would have been signed two, three years ago." Barry, who helped orchestrate Thelen's Western Hockey League trade from Prince Albert to Vancouver after being hired in January, said he feels Thelen has improved since the move. "I don't know everything about his previous history, but he did everything we asked," Barry said. "He left everything on the table at the end, which is always good." Reportedly, Thelen outplayed highly-touted teammates Cody Franson (Nashville) and Brendan Mikkelson (Anaheim) during Vancouver's playoff run. If the Wild indeed lets Thelen walk, Thelen's future is subject to debate. While the league has told the Wild that Thelen would have to re-enter June's draft under the transition rules of the new collective bargaining agreement, Barry contends he should become a free agent. "I read he should be free and I've talked to the Players' Association about my interpretation," Barry said. "We will see what the NHL's interpretation is on June 2." Regardless, the Wild will receive the 42nd pick.