Cale Makar signs largest NHL contract ever: $163.2M with Colorado

Cale Makar has signed the richest contract in NHL history, a $163.2 million extension with the Colorado Avalanche that runs through the 2034-35 season.

The 27-year-old Calgary native agreed to the eight-year deal on Friday with an annual average value of $20.4 million starting in 2027-28. That eclipses the $136 million extension Kirill Kaprizov signed with Minnesota last September and surpasses even the $94 million five-year deal San Jose's Macklin Celebrini inked in late July.

Makar is coming off a season with 20 goals and 59 assists. He finished second in Norris Trophy voting—an award he's won twice in his career—and is among the fastest defencemen ever to reach 500 NHL points, doing it in his 467th game. Only Hall of Famers Bobby Orr, Paul Coffey, and Denis Potvin reached the milestone faster.

The Avalanche drafted Makar fourth overall in 2017 out of the University of Massachusetts. His previous contract, signed in 2021, carried a $9 million cap hit. Securing him long-term was a priority for Colorado's president of hockey operations Joe Sakic, who recently stepped back into the GM role after Chris MacFarland departed for Nashville. Sakic created salary space by trading forward Valeri Nichushkin to Columbus.

Makar was banged up heading into the Western Conference final, where Vegas swept the Presidents' Trophy-winning Avalanche. He missed Games 1 and 2 with an upper-body injury but returned for the final two contests. Sakic said Makar is expected to be ready for training camp.

Makar was part of the core that won Colorado's Stanley Cup title in 2022, when he had eight goals and 29 points during the playoff run and won the Conn Smythe Trophy as playoff MVP. His younger brother Taylor recently signed a two-year contract with the Avalanche that runs through 2027-28.