Avalanche sign MacKinnon to record $12.6M AAV on eight-year extension

The Colorado Avalanche have signed star forward Nathan MacKinnon to an eight-year contract extension which will make him the highest-paid player per year in NHL history.

MacKinnon will carry an average annual value of $12.6 million on the deal, which will begin in the 2023-24 NHL season. The total value of the contract is $100.8 million, which TSN Hockey Insider Pierre LeBrun reports includes $85.34 million in signing bonus money.

The 27-year-old will surpass Connor McDavid, who currently has the league's highest cap hit at $12.5 million.

“Nathan is obviously one of the premier players in the NHL so a long-term extension was something we wanted to get done before the season started,” Avalanche general manager Chris MacFarland said.  “He has that rare combination of speed and power with a high compete level that makes him a generational player.  We are thrilled he will continue to be a member of this team and this community for many years to come.”

MacKinnon, who is entering the final season of a seven-year, $44.1 million contract with an average annual value of $6.3 million, said last week he was ready to move past the title of the NHL's most underpaid star.

“I think the deal I sign will be fair,” MacKinnon said at the NHL Player Media Tour. “It’s not going to be a single digit or anything, but it’ll be good for both sides and Denver is the only place I want to be. I’d like to be an Av for life.”

MacKinnon is fresh off leading the Avalanche to the Stanley Cup in June, tallying 13 goals and 24 points in the postseason. He had 32 goals and 88 points in 65 games during the regular season, topping the point-per-game mark for the fifth straight year under his bargain contract.

“It’s not what you want, that’s for sure – it’s not the title you’re looking for,” MacKinnon joked of the most underpaid label. “I’m glad I won a Cup, though.”

MacKinnon Joins the $10M+ Club

The Cole Harbour, N.S. product has become the 14th player to carry a cap hit of $10 million or more in the 2023-24 season. The same number of players will carry cap hits over $10 million this season, but Chicago Blackhawks stars Patrick Kane and Jonathan Toews are both playing out the last of their eight-year, $10.5 million AAV contracts signed in 2014.

Calgary Flames winger Jonathan Huberdeau has already been added to the list for 2023-24 after signing an eight-year, $84 million ($10.5 million AAV) extension, which he agreed to last month shortly after being acquired from the Florida Panthers.

Cap Hits Over $10M - 2023-24 Season 

MacKinnon has also become the highest-paid player on the Avalanche, topping fellow forward Mikko Rantanen ($9.25M AAV) and defenceman Cale Makar ($9 million).