Makar makes history: Avs sign defenceman to NHL's largest-ever contract

Cale Makar and the Colorado Avalanche agreed to an eight-year contract extension worth $163.2 million US on Friday that will make him the highest paid player in league history.

Makar's extension is set to be the richest in NHL history, surpassing the eight-year, $136 million extension signed by Minnesota forward Kirill Kaprizov last September. Makar's deal runs through the 2034-35 season.

With an annual average value (AAV) of $20.4 million that begins in 2027-28, the Calgary native’s deal eclipses that of San Jose Sharks superstar Macklin Celebrini, who signed a five-year, $94 million extension in late July that has an $18.8 million AAV.

"I couldn't be more excited to continue my journey here with the Avalanche in this amazing city of Denver," Makar said in a video posted on social media by the team, calling it a historic day.

The 27-year-old Makar is coming off a season in which he had 20 goals and 59 assists. He finished second to Zach Werenski of Columbus in the Norris Trophy voting, an award that goes to the league's top defenceman. Makar has won the award twice over his career.

The cap hit for Makar for last season was $9 million after signing a six-year, $54 million contract in 2021. The new deal for Makar now sets the bar for fellow standout defencemen Quinn Hughes of Minnesota and Werenski.

Securing the long-term services of Makar was a high priority this off-season for president of hockey operations/general manager Joe Sakic, who maintained that Makar was "going to finish his career" in Colorado. The team drafted Makar fourth overall in 2017 out of the University of Massachusetts.

Makar was banged up heading into a Western Conference final where the Vegas Golden Knights swept the Presidents’ Trophy-winning Avalanche. An upper-body injury sidelined him for Games 1 and 2, but he returned for the final two contests. Sakic recently said Makar is slated to be ready for training camp.

It's been a busy off-season for Sakic, who's stepping back into the role of general manager after Chris MacFarland left to lead the front office in Nashville. Among the deals orchestrated by Sakic was sending Valeri Nichushkin to the Blue Jackets for draft picks. It was a way to free up space to negotiate the extension for Makar.

Makar has turned in four 20-goal seasons in his career, one of just 12 defencemen in league history to post at least that many campaigns. He also notched his 500th NHL point on March 28 in his 467th career game. He's the fourth-fastest defenceman to reach that milestone, behind only Hall of Famers Bobby Orr (396 games), Paul Coffey (422) and Denis Potvin (465).

The core of Makar, Nathan MacKinnon and captain Gabriel Landeskog helped Colorado to a Stanley Cup title in 2022. Makar had eight goals and 29 points during the championship run to capture the Conn Smythe Trophy as the MVP of the playoffs.

Makar's younger brother, Taylor, recently signed a two-year contract with the Avalanche that runs through the 2027-28 season.