How Cale Makar Extension With Avalanche Impacts NY Islanders

Cale Makar agreed to a historic contract that will have an impact on the New York Islanders.

Jan 28, 2025; Elmont, New York, USA; Colorado Avalanche defenseman Cale Makar (8) skates with the puck against the New York Islanders during the third period at UBS Arena. Mandatory Credit: Brad Penner-Imagn Images / USA TODAY Sports via Reuters Connect

The New York Islanders have been paying close attention to all of the rumors swirling about contract extensions involving some of the best defensemen in the NHL.

Now, one of those rumors has turned into a reality. The Colorado Avalanche and star Cale Makar have agreed to a historic eight-year extension through the 2034-35 season. He has one year remaining on the six-year deal that he signed on July 24, 2021.

When the new contract kicks in, Makar will become the highest-paid player in NHL history on a per-season basis. His AAV is reportedly $20.4 million, making him the first player to surpass the $20 million plateau, and rightfully so, based on his resume to this point.

This deal is going to have a massive impact on the Islanders because extension rumors are going to start with their star defenseman, Matthew Schaefer, once he is eligible on July 1, 2027. The No. 1 pick in the 2025 NHL Draft has set himself up nicely for a long-term extension with what he has accomplished in Year 1 of his professional career.

Cale Makar signs historic extension with Avalance

May 5, 2026; Denver, Colorado, USA; Colorado Avalanche defenseman Cale Makar (8) takes a shot on goal against the Minnesota Wild during the second period in game two of the second round of the 2026 Stanley Cup Playoffs at Ball Arena. Mandatory Credit: Ron Chenoy-Imagn Images / IMAGN IMAGES via Reuters Connect

Schaefer was the unanimous selection for the Calder Trophy as the rookie of the year. While Makar also won the Calder Trophy during his first season in the NHL, he wasn’t a unanimous selection like New York’s star.

It was a truly special first campaign for Schaefer, who scored 23 goals, which ties the record held by Brian Leetch for most by a rookie defenseman in NHL history. He now owns the record for most points by an 18-year-old, recording 59. There wasn’t a first-year player who was on the ice more than he was, as he led the Islanders with 24:14 minutes played per game.

Of course, Schaefer has a long way to go before he is in the same tier as Makar, who already has two Norris Trophy-winning seasons on his resume, along with a Conn Smythe Trophy in 2022. He has been a finalist for the Norris Trophy six out of seven years in his career.

COMMITTED TO CALE ✍️
 
We have signed defenseman Cale Makar to an eight-year contract extension through the 2034-35 season. pic.twitter.com/zU0NePvUSk

— Colorado Avalanche (@Avalanche) August 28, 2026

Also a Stanley Cup champion, Makar could retire today and possibly be inducted into the Hockey Hall of Fame. Schaefer has a long way to go before that, but this contract extension will impact how he negotiates with New York.

There is a new bar for all players to look at when negotiating with their teams. If Schaefer takes a step forward in Year 2, similar to what other young stars such as Macklin Celebrini of the San Jose Sharks did, no one would blame him for asking for an extension in the ballpark of what Makar received.

$20.4 million is the new benchmark for defensemen, with Makar’s deal resetting the market. This is already the second market reset of the summer, with Bowen Byram’s deal with the Chicago Blackhawks, worth $12.5 million, being the previous AAV high for players at the position.

Matthew Schaefer is going to be a rich man in the future

Apr 9, 2026; Elmont, New York, USA; New York Islanders defenseman Matthew Schaefer (48) plays the puck in the third period against the Toronto Maple Leafs at UBS Arena. Mandatory Credit: Wendell Cruz-Imagn Images / IMAGN IMAGES via Reuters Connect

Islanders ownership and front office knew they were going to have to essentially hand Schaefer a blank check when his extension rolled around; now, they have a number to work off in Makar’s extension.

Alas, he isn’t the only star defenseman who has been waiting for an extension. Quinn Hughes of the Minnesota Wild is also looking to land a long-term deal, and now that he has seen what Makar received from the Avalanche, the bar could be raised at least one more time.

With the NHL salary cap projected to keep rising, New York needs to be prepared to work out a historic deal of its own with Schaefer. That is, unless their star takes a cue from Jalen Brunson of the New York Knicks, who passed on earning as much money as possible on his contract and left the front office with wiggle room to assemble an NBA championship-winning squad.