Cale Makar Contract: Avalanche Defenseman Signs Record $163.2 Million Deal

Cale Makar signed a historic eight-year, $163.2 million extension with the Colorado Avalanche, becoming the first NHL player to earn $20 million annually.

Cale Makar made NHL history last week by signing a blockbuster eight-year contract extension with the Colorado Avalanche worth $163.2 million. The 27-year-old defenseman is the first player in league history to earn $20 million annually, carrying an average annual value (AAV) of $20.8 million against the salary cap. This deal, which keeps the franchise cornerstone in Denver through 2031, sits just $400,000 below the maximum allowable annual salary. Before this new agreement begins in the 2027-28 season, Makar will have earned $54 million on his current contract.

GM Joe Sakic secured the eight-year term from the start of negotiations, ensuring the roster remains built around Makar and center Nathan MacKinnon. The duo previously led Colorado to a Stanley Cup victory in 2022. During the last three seasons, Makar has shared 2,572 minutes of 5v5 ice time with MacKinnon. In those minutes, the Avalanche controlled 58.1% of shot attempts, 57.4% of expected goals, and 61.3% of actual goals. Without MacKinnon on the ice, Makar’s numbers shift to 47.3% of shots and 48% of expected goals, though the team maintained a 52.2% goal share in that span. Conversely, MacKinnon without Makar recorded a 66.8% goal share.

Impact on NHL Defensemen and Salary Benchmarks

The financial parameters set by the Avalanche impact several elite blueliners, including Quinn Hughes and Zach Werenski. Hughes currently has one season remaining at a $7.85 million cap hit before becoming an unrestricted free agent. If he signs an extension before Sept. 15, he is eligible for an eight-year term; however, waiting until next summer limits him to a six-year maximum. A max contract in 2027-28, projected at 20% of a $113.5 million cap, could reach $22.7 million annually. Minnesota GM Bill Guerin noted that while Makar’s deal sets a bar, Hughes—who has earned $47.1 million on his current deal—may prioritize a three-year term to align his free agency with his brother, Jack Hughes, in 2030.

Zach Werenski, the reigning Norris Trophy winner, is also eligible for an extension next summer. He currently has two years left on a deal with a $9,583,334 AAV. As a free agent in 2028, Werenski’s potential ceiling could reach an AAV of $24.6 million. In Montreal, Lane Hutson’s eight-year, $8.85 million AAV deal is now viewed as a significant bargain. Hutson finished just one point behind Makar in defenseman scoring last season and will count $11.55 million less against the cap than Makar during the 2027-28 campaign.

Rising Stars and Player Empowerment Trends

New York Islanders defenseman Matthew Schaefer, who turns 19 this week, is expected to command a massive extension next summer following his unanimous NHL Rookie of the Year selection. Islanders GM Mathieu Darche faces a market influenced by both Makar’s $20.8 million AAV and Macklin Celebrini’s five-year, $18.8 million annual deal with the San Jose Sharks. Other recent high-value signings include Connor Bedard’s $15 million AAV extension in Chicago and Leo Carlsson’s five-year, $18 million AAV offer sheet with the Philadelphia Flyers, which the Anaheim Ducks matched.

While stars like Auston Matthews, Evan Bouchard, and Nico Hischier have opted for shorter four or five-year terms, Makar’s eight-year commitment provides Colorado with nine total seasons of stability. This long-term security comes as the NHL anticipates revenue growth from new media deals and league expansion. Some team projections suggest the salary cap could escalate to between $150 million and $160 million by the 2031-32 season. By the conclusion of Makar's current term, industry experts predict some NHL players will earn as much as $30 million per season.