Cale Makar, Macklin Celebrini and the NHL's Highest-Paid Players After Avs Star's Historic Contract

The Colorado Avalanche have officially reset the top of the NHL market.

Cale Makar made league history Friday when he agreed to a reported eight-year, $20.4 million AAV extension.

That contract beat out the previous record set by the San Jose Sharks, which signed Macklin Celebrini to a five-year, $18.8 million AAV deal earlier this offseason.

Here's a look at the players set to be the top five highest-paid in the NHL once their new deals kick in.

The NHL confirmed in May the salary cap would increase by $8.5 million ahead of the 2026-27 season.

The highest salary allowed under that limit is $20.8 million. The Avs are paying Makar just below that after the two-time Norris Trophy winner put together a sixth straight point-per-game campaign last season.

The Minnesota Wild's Kirill Kaprizov was the first player in this top five group to make NHL history with the eight-year, $17 million AAV extension he signed ahead of the 2025-26 season.

The market has been reset multiple times amid a busy offseason.

The Philadelphia Flyers submitted a five-year $18 million AAV offer sheet for Leo Carlsson, which was matched by the Anaheim Ducks in July to briefly make Carlsson the NHL's highest-paid player.

Connor Bedard signed his five year, $15 million AAV extension later that month, followed shortly afterward by Celebrini and his record deal.

The NHL salary cap is projected to climb by another $9.5 million before the 2027-28 season, which would set the maximum player salary around $22.7 million.

One extension-eligible player who could potentially rank near the top of the market is reigning Hart Trophy winner Nikita Kucherov, who is currently heading into next season on an expiring deal with the Tampa Bay Lightning.

Another candidate for a significant extension could be Dallas Stars winger Jason Robertson, who signed to a one-year agreement in July but will be looking for a long-term deal on his next contract.

The biggest upcoming contract negotiations could potentially involve Edmonton Oilers star Connor McDavid. After signing a below-market-value $12.5 million AAV deal that runs through the next two seasons, McDavid could reset the market should he seek higher pay after the 2027-28 campaign.