This summer has witnessed significant spending in the NHL, with the Colorado Avalanche making headlines by signing star defenseman Cale Makar to an unprecedented eight-year extension worth $163.2 million. Announced on Friday, this contract stands as the richest in league history, boasting an annual value of $20.4 million, making Makar the first player ever to eclipse the $20 million salary threshold.

At just 27 years old, Makar is considered one of the best defensemen in the NHL. He has claimed the Norris Trophy twice and played a pivotal role in the Avalanche's Stanley Cup victory, earning the Conn Smythe Trophy for his performance.

In the previous season, Makar showcased his exceptional skills, recording 20 goals and 59 assists across 75 games. Since joining the league in 2019, he leads all defensemen in goals (20) and points (507).

In a heartfelt statement, Makar expressed his gratitude:

I am so excited and humbled to continue to wear the Avalanche sweater and represent this incredible organization and community.

• He thanked the Kroenke family, Joe Sakic, and the entire Avalanche organization for their trust and support.
• Makar also acknowledged his family and fans, stating, "Colorado has truly become a second home to us."

Makar's impact on the ice has been significant, with a five-on-five expected goals share of 54.5%. During his time on the ice, the Avalanche has outscored opponents 220-157. He has reached the 90-point mark in two of the last three seasons and shows potential for 100 points.

As Makar's $11.4 million raise kicks in at the start of the 2026-27 season, it will tighten the Avalanche's salary cap situation. However, the team has successfully locked in all core players through at least 2031. While the $20.4 million average annual value may induce sticker shock, it reflects the evolving financial landscape of the NHL, especially following the recent high-profile contracts of Leo Carlsson and Connor Bedard.