The $163 Million Gamble: Can Cale Makar Carry the Avalanche Window?

When the Colorado Avalanche locked Cale Makar into a record-breaking eight-year extension, as Sportsnet first reported, they didn't just reward a two-time Norris Trophy winner; they placed a massive bet on the ceiling of a single defenseman. According to reporting from Sportsnet, the deal carries a $20.4 million average annual value (AAV), making Makar the first player in NHL history to sign for more than $20 million per season.

**OPINION:** While the $163.2 million total is a reflection of Makar's generational talent, it represents a strategic pivot for the Avalanche. By committing such a staggering percentage of their resources to one player, Colorado is betting that Makar's ability to drive winning results is more valuable than the depth that a more conservative cap hit would allow.

The financial gravity of the deal is stark. Sportsnet reports that in the 2027-28 season, Makar's salary will consume approximately 18 percent of the projected salary cap. When combined with Nathan MacKinnon's slated $12.6 million cap hit and Martin Necas' $11.5 million, the Avalanche are leaning heavily into a top-heavy roster construction.

However, Hall of Fame forward and front-office executive Joe Sakic has dismissed concerns that this approach leaves the team too vulnerable. Sakic told Sportsnet that while depth is necessary, winning is significantly harder without superstars like Makar and MacKinnon. Sakic's conviction appears rooted in the team's recent struggles when Makar was absent. During the Western Conference Final, the Avalanche were swept by the Vegas Golden Knights; Makar missed the first two games of that series due to an upper-body injury. Sakic explicitly linked that absence to the team starting 0-2 and ultimately losing the series, noting that the team needs its stars on the ice and playing well to succeed.

For Makar, the eight-year term—which keeps him in Colorado through the 2034-35 season—provides the stability necessary to chase further championships. The defenseman, who recorded 20 goals and 59 assists last season, told Sportsnet that the length of the deal provides clarity regarding the team's direction. Having already won a Stanley Cup in 2022—a run in which he earned the Conn Smythe Trophy—Makar stated he does not want that single title to be the end of his success.

Despite the record-setting nature of the contract, Makar is not surprised by the trajectory of NHL salaries. He suggested that the $20.4 million figure may be surpassed by players like Toronto's Auston Matthews or Edmonton's Connor McDavid, both of whom are eligible for extensions next summer, or even his own teammate, MacKinnon.

Ultimately, the deal includes a no-movement clause, which Sakic described to Sportsnet as a "no-brainer," asserting that Makar has the right to dictate where he plays. By securing a generational talent who embraces the pressure of being the league's highest-paid player, the Avalanche are gambling that Makar's individual brilliance is the primary engine required to keep their championship window open.