The largest NHL contract in league history was signed by Cale Makar today. He’ll be earning $163.2 million over the next 8 years, starting in 2027.
Makar also becomes the first player in league history to be making an annual salary of over $20 million.
At 19.61% of the cap, it’s the largest individual contract since Brad Richards signed for $39 million in 2006 with the Tampa Bay Lightning.
When Richards signed that contract, it carried the maximum allowable 20% individual salary cap share under the NHL’s $39 million league cap.
The former NHL forward bypassed his way into unrestricted free agency with that 5-year deal. However, he did not finish that contract out in Tampa Bay. He was later traded to the Dallas Stars.
That has since changed. Now it sees players like Makar, Leo Carlsson, Kirill Kaprizov and soon even Quinn Hughes get major pay raises.
Hughes will have until September 16 to sign a deal for 8 years. When the new CBA rules go into place, he can only go to a maximum of 7 years should he go that route.
Significance of Makar’s new contract
Makar will be 36 when his new contract expires. The Avalanche have him locked in for the prime of his career. Notably, he’s already won a Stanley Cup and 2 Norris Trophies.
To further put Makar’s payday in historical context for hockey fans, here are a few examples of what his raise trumps.
Pittsburgh Penguins forwards Sidney Crosby ($160.18 million) and Evgeni Malkin ($145.85 million) have made less to date in their careers than what Makar is set to be paid on this contract.
The Wild‘s Russian superstar, Kirill Kaprizov, signed an 8-year deal worth $136 million last September.
As the NHL’s salary cap continues to rise, there will be other examples like this.
When the 2027-28 season begins, it’s expected that the league’s salary cap will rise to $113.5 million. At this point, that’s just a projection for the NHL.
Now eyes are on what Hughes will sign for in Minnesota. Of the two star defensemen, Makar flinched first. He got a new contract ahead of the 2026-27 season.
Hughes and his camp may look at the business Colorado was able to get done. As a result, they may want a similar contract to be signed.
Future NHL contracts over $20 million
One player in the NHL’s Central Division to keep an eye on is 27-year-old forward Jason Robertson.
He signed a 1-year deal worth $12 million this offseason after the Stars and his camp could not get a longer-term contract signed.
Depending on the nature of the market, which now has a $20 million player, Robertson and his agent Andy Scott will look to strike a similar deal in negotiations.
If a 21-year-old forward in Leo Carlsson with the Anaheim Ducks is being paid $18 million a year for the next 5 seasons, then Robertson could at least use that as a comparable for Dallas to retain him.
Then over in the Eastern Conference, the Detroit Red Wings will need to take care of forward Alex DeBrincat.
His $31.5 million deal expires next summer, and Detroit will need to address that situation as soon as a new general manager is hired.
Other defensemen who will be UFA’s next summer are Erik Karlsson and Drew Doughty. They may not get to the $20 million threshold for an annual salary, but could easily demand double-digits.
More influential deals are on the way, and how it affects the NHL market as a whole for teams to keep their high-end talent.
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How Cale Makar’s historic contract affects the future of the NHL