July 1 brings the usual NHL free-agency frenzy, but it also opens the door for something just as important: contract extensions for stars who are still under team control for another year.
That’s where the real drama can start. These aren’t players shopping for a new home. They’re the ones who can lock in massive long-term money with the teams that already have them, and the names at the top of the list tell you everything about the level of talent involved.
At No. 1 is Cale Makar of the Colorado Avalanche. The 27-year-old defenseman is coming off a deal that carried a $9 million cap hit, and his next one could reset the market entirely.
According to The Athletic’s Pierre LeBrun, Makar could become the highest-paid player in the NHL, topping Minnesota’s Kirill Kaprizov and his $17-million average annual value. Even after what the source calls a “down year,” Makar still produced 79 points this past season.
That’s the kind of season most blueliners would celebrate; for Makar, it sits alongside the résumé of a player with multiple 90-point campaigns, a Stanley Cup, a Conn Smythe Trophy, and two Norris Trophies.
Quinn Hughes of the Minnesota Wild sits right behind him, and the case is just as easy to make. Hughes has become one of the league’s most electric defensemen, the kind of skater who changes the temperature of a game the moment he touches the puck.
He’s nearing the end of a six-year contract with a $7.85 million cap hit, and if Bill Guerin wants to keep the momentum rolling in Minnesota, the price is going to be steep. The 26-year-old can lead the NHL in ice time and still pile up 90 points from the back end, which is exactly why he’s set up to cash in.
Nikita Kucherov is next, and the Tampa Bay Lightning star is coming off another monster year. He won the Hart Trophy as the NHL’s MVP this past season and finished with 130 points, including 44 goals, matching his career high.
That marked his sixth 100-point season. Now 33, he’s at the end of an eight-year deal that paid him $9.5 million per season, and a raise looks like a strong bet.
Macklin Celebrini comes in at No. 4, and even though he’s lower on this list, the hype around him is already enormous. The San Jose Sharks forward just finished a 115-point regular season in his sophomore campaign, and the expectation is that he’s only going to get better.
He’ll be an RFA on July 1, which keeps San Jose in firm control of the situation, and his entry-level contract doesn’t expire until 2027. That’s why his chances of leaving are slim, even if the Sharks would love to get an extension done as soon as possible.
He can sign his first standard NHL contract this summer once that entry-level deal is done.
Sidney Crosby rounds out the group at No. 5, and his presence on the list is a reminder of just how long he’s kept playing at an elite level. In September 2024, he signed a two-year extension at his symbolic $8.7 million per season, and now he’s eligible to extend his NHL career again.
At 38, Crosby scored 29 goals and 74 points in 68 games for the Pittsburgh Penguins this past season. He’s deep into the later stage of a legendary run, but he’s still productive enough to keep the door open for as long as he wants it.
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Wild Fans Have A New Reason To Watch July 1 Closely
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For the Sharks, the intrigue is less about urgency than about timing and value. Celebrini is still under team control as an RFA, but the fact that he can sign his first standard NHL contract extension this summer adds a new layer to his early-career trajectory and to San Joses long-term planning. Around the league, the analysis centers on what these stars might command and how much each one matters to his clubs future, but in San Jose the focus is simpler: one more piece of evidence that the rebuild is starting to collect real stakes. [Read more 🡒]