Leon Draisaitl’s massive extension with the Edmonton Oilers in 2024 changed the expectations for superstar contracts around the league. The deal secured one of hockey’s premier forwards in the long term and reinforced Edmonton’s commitment to its core.
Later, due to the increasing salary cap, we saw Kirill Kaprizov hog the headlines in 2025 for the same reason.
Now, as we approach the 2026 free agency, attention is on another franchise cornerstone whose next contract could raise the bar even higher. This conversation centers on Colorado Avalanche defenseman Cale Makar, whose upcoming negotiations are drawing attention this NHL offseason.
Cale Makar’s Next Deal Could Push Past Leon Draisaitl’s $14 Million AAV
While Draisaitl remains tied to an 8-year, $112 million contract carrying a $14 million cap hit, projections suggest Makar could soon move into that financial neighborhood… and potentially beyond it.
The Avalanche star will become eligible to sign an extension on July 1, and Colorado has made it clear that retaining him is the organization’s top priority. President of Hockey Operations and General Manager Joe Sakic expressed complete confidence in reaching an agreement, stating that Makar is expected to spend the rest of his career in Denver.
The confidence is understandable.
Makar is not just another elite defenseman entering contract talks. He is a two-time Norris Trophy winner, a Stanley Cup champion, a Conn Smythe Trophy recipient, and one of the most productive blueliners of his generation.
After finishing the 2025-26 season with 79 points in 75 games, he continued to strengthen a resume that already places him among the NHL’s most valuable players.
In a recent Sportsnet column, NHL insider Rory Boylen explained why Makar’s next contract could establish a new financial standard for defensemen.
“Makar is in a different boat for several reasons: he’s UFA age, he’s won a Cup, a Conn Smythe, and two Norris Trophies. The sky is the limit,” Boylen wrote.
Boylen also noted that the current benchmark for defensemen remains Erik Karlsson’s $11.5 million cap hit, a number signed under a very different salary-cap environment. Since then, contracts for Rasmus Dahlin and Evan Bouchard have approached that mark, but neither player entered negotiations with Makar’s accomplishments or unrestricted free-agent leverage.
The most eye-catching projection from Boylen’s analysis centers on a cap-share model previously used to evaluate Nathan MacKinnon’s extension.
“If Makar were to get the same 15.09 per cent against the expected $113.5 million upper limit in 2027-28, it would come out to roughly a $14.3-million AAV,” Boylen wrote.
He pointed out that such a figure “would make him the second-highest paid player by AAV in the league, ahead of Leon Draisaitl’s $14 million and behind Kirill Kaprizov’s $17 million.”
The potential increase would also create significant cap management challenges for Colorado. Makar currently carries a $9 million cap hit, meaning his next contract could add somewhere around $6 million annually to the Avalanche payroll.
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With major commitments already attached to stars such as Nathan MacKinnon and Martin Necas, Colorado may need to rely heavily on younger, lower-cost players to maintain roster balance.
For now, no extension has been signed. But if Boylen’s projections prove accurate, Makar’s next deal could become the latest contract to reshape the NHL’s ever-evolving financial landscape.
