Makar’s massive payday sets a pricey new benchmark for elite defensemen, leaving Minnesota to calculate the staggering cost of locking down superstar Quinn Hughes for the long term.
The Minnesota Wild may not have been involved in Cale Makar's contract negotiations with the Colorado Avalanche, but the result could have major ramifications in Minnesota.
Makar and the Avalanche have agreed to an eight-year, $163.2 million contract extension, carrying an average annual value of $20.4 million.
For the Wild, that number immediately matters for one reason: Quinn Hughes.
Hughes is entering the final season of the six-year, $47.1 million contract he originally signed with the Vancouver Canucks in 2021. His $7.85 million cap hit has become one of the biggest bargains in hockey, but that bargain is quickly approaching its expiration date.
Minnesota acquired Hughes from Vancouver in December knowing exactly what was at stake. The Wild surrendered a massive package to acquire one of the NHL's premier defensemen without any guarantee that he would remain in Minnesota beyond the 2026-27 season.
Now, Makar may have established the benchmark for what keeping Hughes could cost.
Makar and Hughes have separated themselves as two of the defining defensemen of their generation. While their styles and individual accomplishments differ, there are few players who make more sense as contract comparables.
That means Hughes' representatives now have a massive number to point toward in negotiations with Wild president of hockey operations and general manager Bill Guerin.
If Makar is worth $20.4 million annually, how far behind should Hughes be? That's the question Minnesota may now have to answer.
Hughes' impact since joining the Wild certainly strengthens his case. He recorded 53 points in 48 regular-season games after arriving in Minnesota and added 15 points in 11 playoff games. His ability to move the puck and generate offense from the blue line transformed the Wild and helped Minnesota advance beyond the first round of the Stanley Cup Playoffs for the first time since 2015.
The Wild have made no secret about wanting to keep him.
Guerin called signing Hughes the organization's "priority No. 1" following the season, while owner Craig Leipold has publicly expressed confidence that the two sides will eventually reach an agreement.
Hughes has also said he would be open to staying in Minnesota.
The more complicated question may be the structure of the contract.
Minnesota would understandably prefer to secure Hughes for as long as possible, but Hughes could have an incentive to sign a shorter extension. A shorter deal would allow him to maintain flexibility while potentially returning to the market while still in his prime.
Not only that, but it would allign him with his brother Jack Hughes.
Regardless of the term, Makar's extension gives Hughes' camp an important new piece of leverage.
Minnesota already committed $17 million annually to Kirill Kaprizov on his eight-year extension. If Hughes lands somewhere near Makar's new $20.4 million benchmark, the Wild could eventually have well over $35 million of their salary cap committed annually to two players.
That's an enormous investment.
It's also the price of employing superstar talent in an NHL where the salary cap — and contracts for the league's best players — continue to climb.
The Wild didn't give up Zeev Buium, Marco Rossi, Liam Ohgren and a first-round pick to rent Hughes for a season and a half. They acquired him with the belief that he could become one of the foundational pieces of a Stanley Cup contender.
Makar's new contract doesn't change Minnesota's desire to make that happen. It may have just made the price considerably clearer.
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