The 8 Biggest Contracts in NHL History
Whether in free agency or via an extension, hundreds of millions of dollars are committed to NHL players every year.
Five times in league history, though, a single individual has received a nine-figure contract. Washington Capitals legend Alex Ovechkin headlines that exclusive group with a $124 million deal he signed as a rising star in 2008.
Since then, four others have joined Ovechkin—and three more players have cracked the $90 million mark.
The list is focused on total money, not average annual value. Otherwise, players such as Artemi Panarin, Auston Matthews, Leon Draisaitl and Drew Doughty would be included.
8. Erik Karlsson
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Contract: 8 years, $92 million
After trading for Erik Karlsson before the 2018 season, the San Jose Sharks made sure to keep him around.
Karlsson became the highest-paid defenseman in league history with his $92 million deal.
Unfortunately for the Sharks, the returns haven't been as great as anticipated. Karlsson posted two 20-goal seasons during his nine-year run with the Ottawa Senators; he's scored 27 times through four years of his contract.
San Jose will be hoping for greater contributions from the 32-year-old to recover some of this value.
T-6. Ryan Suter and Zach Parise
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Contracts: 13 years, $98 million
Defenseman Ryan Suter and left wing Zach Parise could each be highlighted, but it almost feels wrong to separate them.
During the summer of 2012, the players inked matching deals to join the Minnesota Wild. Suter and Parise were among the last free agents to receive such lengthy deals because of changes in a new collective bargaining agreement the next year.
They shared the ice for nine seasons, helping the Wild become a postseason fixture—even though Minnesota only twice advanced to the second round and never further.
Following the 2021 season, the Wild bought out both Suter and Parise.
T-4. Connor McDavid
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Contract: 8 years, $100 million
Looking at average annual value, Connor McDavid stands atop the all-time chart at $12.5 million.
And it's easy to believe he'd be worth more.
After consecutive 100-point years, he began playing under this contract in the 2018-19 season, his fourth in the league. McDavid has since registered 116, 97, 105 and 123 points, respectively, to establish himself as one of this generation's most prolific skaters.
The 25-year-old's contract with the Edmonton Oilers runs through the 2025-26 campaign.
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T-4. Ilya Kovalchuk
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Contract: 15 years, $100 million
Ilya Kovalchuk was the source of controversy. Twice.
In 2010, he agreed to a 17-year, $102 million pact to re-sign with the New Jersey Devils. However, the NHL rejected the pact because it violated the CBA in place. Kovalchuk ultimately inked a 15-year, $100 million deal to stay in New Jersey.
Three years later—in the aftermath of the lockout—Kovalchuk retired from the NHL at the age of 30 to keep playing in his native Russia.
As a result, this one requires a big ol' asterisk. He never collected $77 million of this contract, though Kovalchuk returned to the NHL in 2018-19 and played two seasons.
3. Sidney Crosby
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Contract: 12 years, $104.4 million
By the time 2013 rolled around, Sidney Crosby was clearly one of the NHL's best players—if not No. 1. He was an eight-year veteran with 665 points in 470 games, yet theoretically entering his prime at 25 year old.
There was risk in this 12-year contract, though. Crosby had played just 58 games in the last two seasons, largely because of major concussion issues.
In hindsight, no worries.
Crosby tallied an NHL-best 104 points in 2013-14, kicking off a stretch of six consecutive years of 84-plus points. Most notably, the Pittsburgh Penguins won back-to-back Stanley Cups in 2016 and 2017. Crosby earned the Conn Smythe Trophy as the playoff MVP in both years.
2. Shea Weber
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Contract: 14 years, $110 million
When the Nashville Predators lost Ryan Suter to Minnesota in 2012, they avoided a similar fate with Shea Weber. They matched a $110 million offer sheet from the Philadelphia Flyers to retain the hard-shooting defenseman.
After that lockout-shortened year, Weber had a career-best season with 23 goals and amassed 56 points. Then, he totaled 96 points over the next two years.
Nashville dealt Weber to the Montreal Canadiens in 2016, swapping him for P.K. Subban.
Weber's career soon slowed, largely because of injuries, though he gritted out Montreal's run to a Stanley Cup Final appearance in 2021. He didn't play in 2021-22 because of that physical toll and, though not officially, is considered to be retired.
1. Alex Ovechkin
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Contract: 13 years, $124 million
Alex Ovechkin amassed 310 points in his first three seasons with the Washington Capitals. That incredible level of production made the next part relatively painless.
Washington offered this record-setting deal in 2008, and Ovechkin certainly has held up his end of the bargain. The perennial All-Star and three-time MVP has remained an elite scorer, leading the NHL in goals an impressive eight times during the contract.
As his goals and individual honors piled up, the Caps still lacked the ultimate trophy. But the Stanley Cup finally arrived in 2018 as Ovechkin powered Washington past the Vegas Golden Knights.
After the 13-year pact expired in 2021, the 36-year-old signed a five-year, $47.5 million deal to stay in Washington.
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