The National Hockey League (NHL) is home to some of the most talented athletes in professional sports, and with elite skill comes elite paychecks. Over the years, NHL teams have handed out large contracts to lock in their star players, ensuring they remain competitive and fans stay loyal. But who are the players with big contracts that make headlines? Let’s take a closer look at some of the biggest deals in NHL history and what they mean for the league.
What Makes an NHL Contract “Big”?
When we talk about “big contracts,” we’re focusing on the players with astronomical salaries and extended term lengths. These contracts are typically reserved for franchise players who not only contribute on the ice but also play a role in generating revenue for the team, filling arenas, and influencing younger talent.
The NHL’s salary cap creates limitations for teams, meaning big contracts must work within a careful balance of short-term success and long-term financial stability. For teams that get it right, these deals can lead to Stanley Cup victories. For others, they could mean years of mediocrity.
Top NHL Players with Major Contracts
Connor McDavid
Contract Details:
- Team: Edmonton Oilers
- Deal: $100 million over 8 years ($12.5M per season, signed in 2017)
Connor McDavid is widely considered one of the best players in the NHL today. Known for his unmatched speed, playmaking abilities, and leadership, the Edmonton Oilers secured McDavid with an 8-year, $100 million contract. At $12.5 million per year, this deal makes him the highest-paid player in the NHL by average annual value (AAV).
Why does he deserve this contract? McDavid continues to deliver jaw-dropping performances and has already racked up multiple Art Ross Trophies as the league’s leading point-scorer. For the Oilers, he represents the hope of bringing a Stanley Cup back to Edmonton for the first time since the Gretzky days.
Auston Matthews
Contract Details:
- Team: Toronto Maple Leafs
- Deal: $58.17 million over 5 years ($11.634M per season, signed in 2019)
Toronto fans are passionate, and Auston Matthews has given them plenty to cheer for. Selected first overall in the 2016 NHL Draft, Matthews quickly emerged as one of the premiere goal-scorers in the league. His 5-year, $58.17 million deal reflects his importance to the historic Toronto Maple Leafs.
Matthews’ scoring ability is almost unparalleled, and he’s consistently among the leaders in goals scored year after year. He even took home the Maurice “Rocket” Richard Trophy in 2021 and 2022. While his contract is shorter than McDavid’s, the high AAV shows just how much the Maple Leafs value him.
Carey Price
Contract Details:
- Team: Montreal Canadiens
- Deal: $84 million over 8 years ($10.5M per season, signed in 2017)
While Carey Price’s recent seasons have been affected by injuries, his 2017 contract made waves in the hockey world. At $10.5 million per year over 8 years, the deal cemented him as the highest-paid goalie in NHL history at the time.
Why such a hefty price tag? For much of the last decade, Price has been regarded as one of the best goaltenders in the game. He earned the Hart Trophy (MVP) and Vezina Trophy (best goalie) in 2015, showcasing his ability to single-handedly carry a team. For the Canadiens, Price represents stability in net and has been a key figure both on and off the ice.
The Risks and Rewards of Big NHL Contracts
Rewards
- Franchise Stability: Signing a top-tier player to a long-term deal allows teams to build their rosters around a clear leader.
- Branding and Revenue Growth: Superstar players drive ticket sales, merchandise, and TV ratings, helping teams build a global fan base.
- Competitive Edge: Big contracts often go to players who can deliver in high-pressure moments, such as during playoff runs.
Risks
- Salary Cap Constraints: Big contracts can eat up a large portion of a team’s salary cap, leaving little room to build a competitive supporting cast.
- Long-Term Commitments: Injuries or declines in performance can make long-term deals a burden on a team’s finances.
- Buyouts and Dead Cap Hits: If a team needs to part ways with a player due to poor performance, it may face significant financial penalties.
The Future of Big Contracts in the NHL
The trend of giving out big contracts shows no signs of slowing down. Younger players entering the league are setting new standards, and teams are willing to offer these players significant deals earlier in their careers. Meanwhile, the NHL’s predicted salary cap growth in upcoming seasons may allow teams to spend even more on top talent.
Final Thoughts
Big contracts may come with their share of risks, but they’re often worth it for NHL teams looking to secure generational talent. Players like Connor McDavid, Auston Matthews, and Carey Price remind us why these deals are offered in the first place—they are not only game-changers on the ice but also the faces of their respective franchises.
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