Cale Makar has set a new standard in NHL player compensation with an eight-year, $163.2 million contract extension announced by the Colorado Avalanche. The deal, starting with the 2027–28 season, includes an average annual value (AAV) of $20.4 million, making Makar the league’s first player to earn more than $20 million a year on average. His contract narrowly misses the NHL maximum salary cap hit of $20.8 million, and it stands as the most lucrative total contract in NHL history.

Makar’s agreement adds to a rapid succession of record-breaking NHL deals in recent months. Notably, Sharks center Macklin Celebrini signed a five-year, $94 million contract at an $18.8 million AAV just a month prior. This summer alone, the NHL high AAV has been surpassed three times, following Wild forward Kirill Kaprizov’s $136 million, eight-year deal at $17 million per year signed in September 2025 and the Ducks’ five-year, $90 million deal for Leo Carlsson at $18 million AAV in July. Makar is the only defenseman among this quartet of landmark contracts.

This contract not only elevates Makar’s personal earnings but also increases expectations for top NHL defensemen’s upcoming deals, including Quinn Hughes and rising star Matthew Schaefer of the New York Islanders. Colorado’s timing to sign Makar was strategic, as it occurred before the NHL’s new collective bargaining agreement (CBA) takes effect on September 16. The updated CBA reduces maximum contract lengths—seven years for re-signings and six for free agents—which may influence future deals toward shorter, more flexible contracts.

With a salary cap forecasted to rise significantly in the coming years under the new CBA, large max-length contracts like Makar’s could become less common as players and teams seek to balance long-term security with the potential for increased earnings through shorter deals later on. Makar’s record contract not only reflects the growing financial power within the NHL but also signals a shifting market dynamic for player compensation, particularly for the league’s premier talents.