Cale Makar’s new deal has a way of making every other contract in the NHL look a little different, and Nico Hischier’s extension is no exception.
Makar signed an eight-year contract worth $20.4 million per season, setting a new benchmark as the largest contract in history by average annual value. The deal comes in just $400,000 shy of the maximum he could sign right now, and it lands in a market that has been moving fast all offseason. What once might have felt like a stunner on July 1 has become part of a broader spending spree, with bigger numbers becoming the norm.
That shift started when Leo Carlsson signed an offer sheet with the Philadelphia Flyers, a move that pushed the market out of the old $12-14 million range and into $18+ million territory. After the Anaheim Ducks matched that contract, the next two major deals followed quickly.
Macklin Celebrini signed a five-year, $94 million contract, a number that topped Carlsson’s average annual value. Then Makar raised the bar again.
The timing matters because Hischier already had his deal in place. He signed a five-year extension at $11.7 million per season, and at the time it was described as a “ fair deal for both sides.” Two months later, that number looks like a huge win for New Jersey.
The Hischier-Makar connection has always been there because both players came out of the same draft. The Devils did at least consider Makar when they made their pick, though the consensus was Hischier. There was also a group that looked at Miro Heiskanen, who is now with the Dallas Stars.
In a 2017 NHL Draft redo, most people would probably take Makar first overall. If New Jersey had gone that direction, the franchise’s path would look very different.
Taylor Hall likely never wins an MVP, and the Devils probably don’t trade for P.K. Subban.
Whether they’d be better or worse today is impossible to say, but Hischier is not the piece that has defined their problems.
That’s why the contract comparison keeps coming back. One player is now on a deal that nearly touches the top of the market, while the other is locked in at $11.7 million per year. So the question hangs there: is Makar twice the player Hischier is?
For the Devils, the answer probably doesn’t matter much. They got Hischier at a number that looks better by the day.
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Quinn Hughes Just Got More Expensive For Devils Fans
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Hughes has one more season left on his current deal, and the expectation is that his next negotiation will land in the same stratosphere as Makars. The Devils do have cap space lined up for the 2026-27 season, so the accounting can work, but the bigger question is still the same one hovering over any Hughes watch: whether he ends up staying put or becomes the kind of swing piece that could reshape the market for a team like New Jersey. [Read more 🡒]
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But the debate around Kovalchuk never really ended because his Devils run ended so abruptly. He signed the massive 15-year, $100 million contract, then left after the 2012-13 season to play in Russia and never came back, with 12 years still left on that deal. Even now, his place in the franchise record book is hard to reconcile with the memory he left behind, since he ranks 44th in career points and is not viewed as one of the top five forwards in team history. [Read more 🡒]
Riley Tufte Puts One Real Devils Roster Question In Focus
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The upside is obvious enough to make the conversation interesting. Tufte has shown he can produce in the minors, but the harder part has been carving out a consistent NHL spot, with competition and organizational choices standing in the way more often than not. For the Devils, the question is whether this is finally the place where his game translates into something more useful than depth insurance, or whether he remains one of those players whose best work keeps coming just short of the league he is trying to stay in. [Read more 🡒]