Makar's Record Deal Sets New Bar; Hellebuyck Trade and Penguins Rebuild Loom
Cale Makar signed an eight-year, $163.2 million extension with the Colorado Avalanche, becoming the first NHL player to exceed a $20 million average annual value. This record sets a new benchmark for Quinn Hughes. Meanwhile, Connor Hellebuyck has publicly requested a trade from the Winnipeg Jets, with Buffalo, Vegas, and Carolina cited as potential destinations. The Pittsburgh Penguins face a critical decision point as veteran stars approach free agency.
Key points
- Makar's deal is the largest in NHL history, averaging $20.4 million per year through 2034-35.
- The contract is only $400,000 per year below the maximum 20% cap hit allowed in 2026-27.
- Hellebuyck has waived his no-movement clause for multiple teams, including Buffalo, who were close but failed to meet Winnipeg's asking price.
- The Penguins retain veterans like Crosby, Malkin, and Karlsson, but their contracts expire soon, forcing GM Kyle Dubas to decide on a full rebuild.
- Quinn Hughes is expected to sign a shorter-term deal, likely under Makar's AAV, potentially aligning with Jack Hughes.
Background
Recent archive coverage established that Makar's signing was the first to breach the $20 million AAV threshold, following record deals by Kaprizov, Carlsson, and Celebrini. Previous reports also detailed Hellebuyck's trade request and the Jets' high asking price, as well as the Penguins' aging core under GM Kyle Dubas.
How outlets are covering it
The Hockey Writers emphasizes the strategic implications for Quinn Hughes, suggesting his shorter-term deal will likely fall below Makar's AAV. The Denver Post highlights the financial shift, noting that Makar's deal is near the cap maximum and that the league's financial landscape has evolved rapidly. NHL.com focuses on Makar's historical achievements, noting he is one of only three defensemen to average a point per game in his career. The Athletic's Jesse Granger identifies Buffalo, Vegas, and Carolina as strong fits for Hellebuyck, while Josh Yohe questions whether the Penguins can remain competitive with their aging roster.
Why it matters
Makar's contract redefines the salary cap landscape for defensemen, potentially influencing future deals for stars like Zach Werenski and Josh Morrissey. Hellebuyck's trade could reshape the goaltending market, while the Penguins' decisions will determine if they pursue a rebuild or attempt to remain competitive with their veteran core.
What to watch
Quinn Hughes is expected to finalize his contract soon, likely for three years. Hellebuyck's trade destination remains uncertain as negotiations continue. The Penguins will monitor their performance in 2026-27 to decide whether to trade veterans like Crosby and Malkin or extend them.
- NHL Rumours: Makar’s Record-Breaking Deal, Hellebuyck Destinations & More The Hockey Writers
- Avalanche's Makar agrees to record deal worth $20.4M annually ESPN
- Avalanche sign Cale Makar to 8-year, $163.2 million extension — largest contract in NHL history The New York Times
- Avalanche Signs Makar To Eight-Year Extension | Colorado Avalanche NHL.com
- Reactions to Avalanche star Cale Makar’s mega-contract: ‘A unicorn deserves to break the bank’ The Denver Post
Want the full story? Read the original reporting
Read on The Hockey Writers