If I was the Wild I would tread very lightly here. Most guys in Koivu's spot get at least one of money or term. I would be hesitant to give him much more than one year, which may be an offer that compels Mikko to tell the Wild to pound sand.
Then again, the Wild doesn't really have anyone else that can do what he does. Play in all situations, win big face-offs, play a 200 foot game. I'm not the hugest Koivu fan, but I can recognize he brings a pretty good overall game to the table.