Cale Makar’s Record Contract Marks Fourth Landmark NHL Deal in 11 Months

The Colorado Avalanche just inked a record-breaking eight-year, $163.2 million contract extension with their star defenseman Cale Makar, making him the NHL's first $20 million man. The average annual value (AAV) stands at $20.4 million, surpassing the league maximum of $20.8 million and setting a new record for the largest contract in NHL history.

Makar's contract recently broke the mold, coming just a month after his fellow Sharks center Macklin Celebrini inked a five-year, $94 million deal, which held the high-water mark at $18.8 million AAV. However, Makar's deal offers eye-popping signing bonuses, with a staggering $18.8 million guaranteed in the final year at the ripe age of 36.

Since September 2025, four NHL deals have shattered the high-water mark - three within the same summer. In September, Wild forward Kirill Kaprizov inked a then-record $136 million, eight-year extension with a $17 million AAV, setting a new league benchmark for star players. In June, Ducks' center Leo Carlsson signed an $18 million AAV deal, but Makar beat him to the punch in July.

Makar's deal is the only one among the four that belongs to a defenseman. The new contract also raises the stakes for the NHL's other top defensemen whose contracts are due for renewal soon, namely Quinn Hughes, traded to Minnesota last season, and Matthew Schaefer of the Islanders, who had a Calder Trophy-winning season and now enters free agency.

Colorado signed Makar's contract before the new Collective Bargaining Agreement (CBA) takes effect on September 16, which will shorten max-term contracts by a year. As the salary cap rises in the coming years, max-term deals like Makar's might become less common, as players could opt for shorter deals for potentially bigger paydays in the future.