Cale Makar’s new contract in Colorado did more than make headlines this weekend. It changed the conversation for every team trying to pay elite talent, and the Maple Leafs are right in the middle of that shift.
The Avalanche gave Makar an eight-year deal worth $20.4 million annually, a number that has reset the market and pushed superstar pricing into a different stratosphere. For the Leafs, that means the bill is going up across the board. Austin Matthews is the obvious name that comes to mind, but the impact goes well beyond him.
If everything breaks right, Gavin McKenna could be the next player to reach that level. Even before he has played an NHL game, fans and analysts have already labeled him the next superstar.
If he lives up to that billing, a Makar-type contract is the kind of payday he could command. It may still be a few years away, but it is the sort of number Toronto will need to plan around, especially if Matthews ends up on a similar deal.
The rising salary cap will soften the blow somewhat, but it will not stop the pressure. As the cap climbs, player asking prices are climbing too.
More room to spend usually means more money being demanded, and McKenna could be looking at well over $20 million annually. That is speculation for now, but it is the kind of price tag the Leafs have to be ready for.
The new market also affects Toronto’s approach to free agency. Top-end players on the open market are going to try to cash in on this shift, and teams willing to spend will be pulled into bidding wars that drive the numbers even higher. If the Leafs want to stay in the mix for those kinds of names, they will have to be prepared to open up the checkbook.
Zach Werenski is one player who could fit that profile. He is set to hit free agency at the end of the 2027-28 season, and with his rocky relationship with the Blue Jackets, it seems likely he will test the market.
There should be plenty of interest in him, including from the Leafs. He may not reset the market the way Makar just did, but a crowded bidding field could still push his price close to that level.
Toronto now has some major cap choices ahead, and Makar’s extension only makes them more pressing. The Leafs will need to be careful about where they spend, because the cost of elite talent just got a lot steeper.
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