Cale Makar just became the richest player in NHL history. The Avalanche defenseman signed an eight-year extension worth $20.4 million per year in average annual value, breaking the previous record.
Makar's deal reflects his status as one of the league's elite two-way defensemen. He's a Norris Trophy winner who drives play in all three zones and remains in his prime at 25 years old. For Colorado, locking him down long-term was non-negotiable. They're building around him.
The contract also signals the Avalanche's commitment to contending now. They've got Nathan MacKinnon and Mikko Rantanen locked into massive deals already. Adding Makar to that core creates a ceiling-high payroll, but the team believes it can win Stanley Cups with this group. That's the bet.
This deal will reshape the market. Makar's extension sets the new standard for elite defensemen. Any team trying to retain a generational blue-liner will point to his number. For players entering negotiations, it's a benchmark they'll reference.
The Avalanche needed to get this done before Makar hit free agency in two years. Paying him now, even at record rates, beats losing him to the open market. Management clearly decided the premium was worth keeping their foundation intact.