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Salary Cap Deep Dive: Utah Mammoth

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Navigating the salary cap is one of the most important tasks for a front office.  Teams that can avoid total cap chaos by walking the tightrope of inking players to deals that match their value (or compensate for future value without breaking the bank) remain successful.  Those who don’t often see struggles and front office changes.

PHR will look at every NHL team and give a thorough look at their cap situation for the 2025-26 season.  This will focus more on players who are regulars on the roster versus those who may find themselves shuttling between the AHL and NHL.  All cap figures are courtesy of PuckPedia.  We’re currently covering the Central Division, next up are the Mammoth.

Utah Mammoth

Current Cap Hit: $88,817,857 (below the $95.5MM Upper Limit)

Entry-Level Contracts

F Logan Cooley (one year, $950K)

Potential Bonuses
Cooley: $3.5MM

As expected, Cooley took a big step forward in his sophomore season while clearing all four of his ‘A’ bonuses ($1MM in total).  GM Bill Armstrong hasn’t hesitated in trying to sign some of his young core pieces to long-term deals and it makes sense he’ll try to do so here.  But with the cap projections that are available, the cost of that pact should break past the $8MM ceiling of many of his comparables and even jump ahead of the $9MM mark.

Signed Through 2025-26, Non-Entry-Level

F Michael Carcone ($775K, UFA)
D Ian Cole ($2.8MM, UFA)
G Connor Ingram ($1.95MM, UFA)
F Barrett Hayton ($2.65MM, RFA)
F Alexander Kerfoot ($3MM, UFA)
F Nick Schmaltz ($5.85MM, UFA)
F Kevin Stenlund ($2MM, UFA)
D Juuso Valimaki ($2MM, UFA)
G Vitek Vanecek ($1.5MM, UFA)

Potential Bonuses
Cole: $200K

The backloaded nature of Schmaltz’s contract made him a speculative trade candidate before the team was sold and moved to Utah which took that idea off the table.  He has been quite consistent offensively in recent years, ranging between 58 and 63 points in each of the last four seasons, solid second-line production.  He hasn’t played center too frequently over that stretch but has spent enough time down the middle that teams on the open market will be willing to pay the premium to get a top-six center.  He’ll make $8.5MM this season between his salary and signing bonus and while matching that on his next contract could be difficult, landing in the $7.5MM area seems doable.

Kerfoot’s offensive production has been a little volatile over the past few years but he still has a floor of a third-line center who can play up and down the lineup when needed.  That profile should appeal to a lot of teams and another multi-year deal (three or four years) should be doable with a price tag pushing past the $4MM per season mark.  The second bridge deal given to Hayton has gone better than the first and this will be a big year.  If he can have another 40-plus-point campaign, that will be three years out of four, giving him a much better case in his final arbitration-eligible year.  If they work out a long-term deal, it could land past $6MM per season while if they opt for another shorter-term pact that buys just a couple of years of control, it might land more in the $5MM range.

Stenlund landed more than some expected last summer for a player who had only been a full-time player for one year but he wound up playing a bigger role than expected and won over 59% of his draws.  Another season like that could have him closer to $3MM while a step back could keep him around where he is now.  Carcone wasn’t planning on coming back to Utah after spending a lot of the year as a healthy scratch but after the market didn’t go his way, he accepted the minimum to return.  At this point, he’s likely to stay around the minimum moving forward.

Cole, who will max out his bonuses at 65 games played, is now on his fifth straight one-year contract.  He has logged a fourth or fifth role for the bulk of that time and at this point, barring a big drop in ice time or efficiency, it seems same to think he’ll stay around this price tag next summer, probably on another one-year pact when he’ll be 37.  Valimaki is coming off a tough year, one that saw him scratched at times before suffering a torn ACL which will cost him the first couple of months of this season as well.  At this point, he’ll be hard-pressed to match this price tag on his next deal and a one-year pact to try to rebuild some value might be the way to go.

Ingram took over the number one job in 2023-24 but wasn’t able to sustain that success last season and entered the Player Assistance Program in March but was cleared last month.  However, he won’t be returning to Utah, putting his short-term situation into question.  If he can stay in the NHL, another deal in this price range could be doable.  But if he winds up in the minors for a big chunk of next season, he could find himself closer to number three money, around half of his current AAV.  Vanecek was brought in as additional insurance this summer and is coming off a rough year, his second straight with numbers well below average.  Unless he turns that around, he’s unlikely to command any sort of significant raise next year.

Signed Through 2026-27

F Lawson Crouse ($4.3MM, UFA)
D John Marino ($4.4MM, UFA)
F Liam O’Brien ($1MM, UFA)

After a couple of 40-point seasons, it looked like Crouse was turning the corner and becoming a legitimate top-six piece.  But things went sideways last season as he only managed 18 points.  If last year was an aberration, then Utah should still get decent value over these final two years while Crouse will be in line for a small raise.  But if last season is the new sign of things to come, his value is going to take a big blow, putting his next deal closer to half of his current deal.  O’Brien was the NHL’s leader in penalty minutes in 2023-24 while playing a regular role but he was scratched more often than not last season.  Still, there remains enough of a market for enforcers that he could still best this contract two years from now.

Marino’s first season in Utah was injury-riddled as he only played in 35 games.  Still, in those outings, he showed that he can hold down a top-four role and kill penalties.  Add that to being a right-shot defender and you have the profile of a player who should be able to push past $5MM per season on his next contract on what’s likely to be another long-term deal.

Signed Through 2027-28

D Sean Durzi ($6MM, UFA)
F Clayton Keller ($7.15MM, UFA)
D Olli Maatta ($3.5MM, UFA)
D Nate Schmidt ($3.5MM, UFA)
F Brandon Tanev ($2.5MM, UFA)

Keller hasn’t always received a lot of fanfare but over the past four seasons, he has found that extra gear and has become a legitimate top-line producer, averaging just shy of 80 points per campaign over that stretch.  As the market value for top-line wingers is set to go up over the next couple of years, Keller should be in a spot to surpass $10MM per season on a long-term pact in 2028.  Tanev isn’t as impactful as he was a few years back but he can still add some grit and defensive acumen to the Mammoth.  He’ll be 37 when this deal ends so he’ll likely be going year-to-year from there and if his role resembles that of his time in Winnipeg down the stretch, he will be hard-pressed to make this on that next contract.

Durzi is an interesting case.  After showing some offensive promise in Los Angeles, his first year with this organization (back when it was in Arizona) saw him take another step forward, earning this contract and suggesting he can be a core piece for Utah.  But injuries limited him last season to just 30 games and with some of the defensive additions they made following the change in cities, his role wasn’t as substantial, particularly his power play time.  He’s likely to get similar usage moving forward.  If he can get back to being a 40-point player, his value on the open market could push more towards the $8MM range on a long-term pact while if he remains in the role he had last season, the goal might be more along the lines of matching this price tag.

Maatta fit in nicely after being acquired in an early-season trade to give them some help with their injuries.  Still, the decision to give him this contract as an early extension was a little odd, especially since his role when everyone is healthy is lower on the depth chart than where he played for a lot of last year.  This is a little on the high side for someone who is best served as a third-pairing piece but they have the cap space to afford that premium.  The same can be said for Schmidt who was more of a sixth option with Florida but still landed this contract back in July.  He’ll also be entering his age-37 year on his next contract, one that should be a one-year pact closer to half of this amount.

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East Injury Updates: Maple Leafs, Panarin, Jensen

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The Maple Leafs announced (Twitter link) that defenseman Simon Benoit is dealing with an upper-body injury while center Nicolas Roy has a lower-body injury.  Neither player took part in practice today while goaltender Joseph Woll was also absent due to illness.  Benoit was a regular on Toronto’s third pairing last season while Roy is likely to break camp as their third-line center after being acquired from Vegas just before free agency opened up.

Meanwhile, there is some good news on injury front for the Maple Leafs as well.  Head coach Craig Berube told reporters including Nick Barden of The Hockey News that forward Max Domi is expected to rejoin the team for practice on Sunday.  He has yet to take part in training camp due to a lower-body injury.  This could be a big camp for Domi with a spot on Toronto’s top line up for grabs following Mitch Marner’s departure and as their roster stands, he’s one of the players who could have a shot at that spot.

Other injury news from around the Eastern Conference:

  • After exiting practice early on Friday, it appears the Rangers have dodged a significant injury to Artemi Panarin. Newsday’s Colin Stephenson notes (Twitter link) that while the winger didn’t take part in practice today, he’s listed as day-to-day with a lower-body injury.  It’s a contract year for the 33-year-old so he’ll be looking for a big year to help boost his market value.  Despite a 31-point drop in points to 89 last season, Panarin still led New York in scoring for the sixth straight year, comprising his entire tenure with the team.
  • Senators defenseman Nick Jensen took part in practice today but not the scrimmage game, relays Postmedia’s Bruce Garrioch (Twitter link). The veteran underwent hip surgery back in May with the belief that he is a little ahead of schedule although his availability for the start of the season next month remains in question.  Jensen was a big contributor on Ottawa’s back end in 2024-25, notching 21 points in 71 games while logging over 20 minutes a night.

Ryan Suter Not Actively Pursuing A Contract

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One of the more prominent unrestricted free agent defensemen still on the open market is veteran Ryan Suter.  However, as Pierre LeBrun points out in his latest piece for The Athletic (subscription link), Suter doesn’t appear to be actively pursuing a contract.  While he isn’t ready to say he has retired and would listen to an offer if it came in, he instructed his agent earlier this summer not to call teams to try to drum up a market for his services.

The 40-year-old has been an NHL regular for the past 20 years, suiting up in 1,526 regular season contests over that span, good for 19th all-time.  Even a partial campaign this year could put him in the top 15.  It’s also fair to say that he has logged some heavy minutes over that stretch with an average TOI at over 24 minutes per game, including two seasons with Minnesota where he averaged over 29 minutes a night.

In his prime, Suter was a steady offensive contributor from the back end as well.  He had a stretch of 13 straight seasons with at least 30 points with seven of those seeing him record at least 40.  The end result was 696 points, ranking him 33rd among all-time NHL rearguards.

Last season, Suter was a regular for the Blues after inking a one-year deal worth the league minimum of $775K plus $2.25MM in potential performance bonuses, many of which were simply tied to games played; the structure gave St. Louis some additional short-term cap flexibility.  While he only managed 15 points in 82 games, he still logged over 19 minutes a night while often playing on their top penalty kill pairing.  While he’s a year older now, his performance last season showed that he can still contribute at the NHL level.

At this point, Suter might be better served waiting into the season to sign to see if the right opportunity presents itself, either one with a contender or a chance to play close to home.  Going through the full rigors of an 82-game season may not be the best option so a spot where he can be in more of a depth or reserve role would make sense in theory.  But if that opportunity ultimately doesn’t present itself, it appears that Suter is content with calling it a career if it gets to that point.

Pacific Notes: McTavish, Doughty, Giles

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While both the Ducks and unsigned center Mason McTavish are believed to want a long-term deal, it appears they have very different opinions as to what that deal would cost.  The Fourth Period’s David Pagnotta reports that McTavish’s camp is opening to signing a seven or eight-year deal in the $7MM to $8MM range, a contract that would make the 22-year-old their highest-paid forward.  However, Anaheim’s preference appears to be a five-year pact around $5.5MM per year.  Curiously, that would only buy the team one extra year of club control but the price tag would make it a team-friendly contract right away while allowing veteran Troy Terry to remain their top-paid attacker.  Clearly, the two sides still have a long way to go to bridge the gap.

More from the Pacific Division:

  • Kings defenseman Drew Doughty missed most of last season after undergoing ankle surgery but returned in late January and was a regular from there. However, Zach Dooley of LA Kings Insider notes that the veteran underwent a second surgery on the ankle after the playoffs, one that kept him sidelined for eight weeks.  Doughty feels the second procedure will allow him to feel more like he did a couple of years ago and given how much Los Angeles relies on him, a healthier version of himself would give their back end a nice boost to start the season.
  • Sharks winger Patrick Giles recently underwent surgery on a lower-body injury and is at least a couple of weeks away from returning to the ice, relays Sharks Hockey Digest’s Max Miller (Twitter link). The 25-year-old split last season between Florida and San Jose, getting into 17 NHL contests combined between the two teams where he had a goal and 11 shots in a little over nine minutes a night of playing time.  If Giles isn’t healthy to start the season, the Sharks can place him on season-opening IR and have a reduced cap hit relative to the number of days he spent on an NHL roster in 2024-25.

Jack Roslovic Believed To Have Declined Offer From Oilers

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One of the biggest free agent surprises this summer is that forward Jack Roslovic remains a free agent.  Coming off matching his career high in goals last season with 22, the belief was that he’d land a multi-year deal with a raise from the $2.9MM he received last season; we had him ranked 20th in our annual Top 50 UFA list.  Instead, as the preseason gets underway tonight, he’s still on the sidelines.

That isn’t to say that he hasn’t had offers, however.  In his latest column for The Athletic (subscription link), Pierre LeBrun reports that the Oilers are believed to have made a pitch at some point during the summer, one that was declined.  Considering that they’re very tight to the Upper Limit of the salary cap, it stands to reason that the proposal may have come very early in free agency before their roster was filled out.  Otherwise, the offer would have needed to be relatively close to the minimum salary for them to stay cap-compliant.

As much as Roslovic has bounced around recently (he has played for three different teams in the last year and a half), he has been able to provide some decent consistent secondary scoring.  He had 39 points last season, extending his streak to five straight years of recording more than 30 points.  Between that and his ability to play down the middle when needed, Roslovic seemed to be in better shape than he was last summer when he ultimately accepted a one-year deal from Carolina.

LeBrun notes that Roslovic’s desire remains to secure a multi-year contract and he has changed to being represented by ASM’s Justin Duberman (he was previously repped by 4Sports’ Claude Lemieux).  Whether that will be enough to get the term and money he’s seeking remains to be seen but with most rosters set heading into the season, it won’t be easy.

Lightning Sign Dominic James To Entry-Level Deal

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The Lightning have signed college free agent forward Dominic James to an entry-level contract, per a team press release. It’s a two-year deal for the 23-year-old, who was initially a Blackhawks draft pick but became an unrestricted free agent last month after failing to sign with them following his senior season at the University of Minnesota-Duluth.

PuckPedia reports that the deal will carry a $910K cap hit and an AAV of $975K, breaking down as follows:

2025-26: $775K NHL salary, $97.5K signing bonus, $102.5K games played bonus
2026-27: $850K NHL salary, $97.5K signing bonus, $27.5K games played bonus

James, a sixth-round selection in the 2022 draft, had a strong showing for the Bulldogs in 2024-25 after losing most of his junior year to injury. He appeared in 35 games, serving as an alternate captain and leading the team in scoring with a 14-16–30 line. Those numbers brought him to 30 goals, 47 assists, and 77 points in 111 games for his collegiate career.

The Michigan native went undrafted twice before being selected by Chicago. In the 2021-22 campaign that preceded his selection, he worked his way onto the United States’ roster for the World Juniors, scoring one assist in five games at the tournament amid his freshman season in Duluth.

James wasn’t a huge loss for an already deep Blackhawks prospect pool. He didn’t check in as one of the top 15 names in the system to watch when Scott Wheeler of The Athletic did his last round of rankings in February. He could challenge as a top-10 or top-15 piece in a markedly weaker Tampa pool, though. He’s a significant addition for the club in that regard, especially after they lost a college free agent to the Avalanche when 2021 sixth-rounder Alex Gagne signed in Colorado a few weeks ago.

He’ll be ticketed to spend the year with the Bolts’ AHL affiliate in Syracuse. A midseason call-up wouldn’t be out of the question, but expecting him to compete for an NHL job – particularly after not starting camp with the Bolts – isn’t realistic.

Kings’ Angus Booth, Corey Perry To Miss Several Months With Injury

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The Los Angeles Kings will be faced with a pair of long-term injuries out of the gates this season. Depth defenseman Angus Booth is expected to miss “several months” with a lower-body injury per John Hoven and Mayors Manor. Hoven specified that Booth’s timeline will be similar to winger Corey Perry, who underwent knee surgery earlier in the month to address an injury sustained in a late-summer practice.

Perry’s injury will have the most direct effect on the Kings’ lineup. The 40-year-old, soon-to-be Hall-Of-Fame hopeful signed a one-year, $2MM contract with the Kings this summer. He seemed well set to fill an important veteran role in the team’s middle-six, after posting a productive 19 goals and 30 points in 81 games with the Edmonton Oilers last season. Perry also scored 14 points while playing in all 22 games of Edmonton’s run to a Stanley Cup Finals loss. Now, it seems his durability has run slim. It will be a long while before Perry breaks into the Kings’ lineup. When he does, there’s no telling how the aged winger will adjust after another significant lower-body injury.

Booth won’t leave an NHL role in his absence, though his injury will dampen his chances to jump into Los Angeles’ seventh-defender role. He played through his first pro season last year, netting 13 points and 38 penalty minutes in 50 games with the AHL’s Ontario Reign. It was a stout year where Booth’s defense-first style seemed to shine. He was a long-shot to break camp with the Kings this season, but could have rivaled players like Samuel Bolduc and Jacob Moverare for a depth role. Instead, he’ll have to wait until closer to the end of the calendar year to earn his chance. Booth should be expected to return to Ontario’s rotation when he’s back to full health.

Snapshots: Ullmark, Buium, Sturm, Grzelcyk

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Ottawa Senators goaltender Linus Ullmark is ready to enter the year with a high bar. He was heavily critical of his performances through the first two days of training camp, describing them as “terrible” to Bruce Garrioch of the Ottawa Citizen. Head coach Travis Green wasn’t as harsh, telling Garioch that he thought Ullmark was fine through both days, and only being hard on himself.

While harsh words could be a sign of poor confidence, the Senators have to be encouraged by signs of a high bar from their star netminder. Ullmark posted a career-low .910 save percentage through 44 games last season, his first in Ottawa. That mark still ranked as  the seventh-highest in the NHL, but was well below Ullmark’s career-long .917 save percentage. The Senators pay Ullmark a lofty $8.25MM cap hit, beginning this season. That will make finding a path back to elite performance a must for the 32-year-old netminder, and former Vezina Trophy winner.

Other notes from around the NHL:

  • Top Minnesota Wild prospect Zeev Buium sustained an upper-body injury during the team’s Thursday practice, and missed Friday’s practice as a result, per Sarah McLellan of Star Tribune Sports. Nico Sturm was also absent for a designated maintenance day. McLellan adds that head coach John Hynes wasn’t concerned about Buium’s injury. That’s good news for Buium, who is looking to make the NHL roster in his first NHL training camp. He was a prolific collegiate defensemen – netting 24 goals, 98 points, one conference championship, and one national championship in 83 games and two seasons with the University of Denver. Buium was a main cog in the Pioneeers’ offense, and will now look to use that instinct to impress Minnesota’s coaching staff. Per this update, he’ll get back to doing just that within the next few days.
  • Chicago Blackhawks head coach Jeff Blashill shed some more light on the team’s plans for Matt Grzelcyk’s professional try-out. He told Ben Pope of the Chicago Sun Times that Grzelcyk will likely only get a contract if one of the team’s young defensemen doesn’t look NHL-ready out of camp. Chicago will roll out the carpet for Artyom Levshunov, Sam Rinzel, and Kevin Korchinski at training camp. All three are high-upside defenders, each boasting their own reasons for excitement next season. But Rinzel hasn’t yet played through an extended run in the NHL, and Korchinski has proven shaky in past opportunities. It’s still hard to bet against either player, but Chicago made sure to hedge their bets with an NHL veteran coming off a 40-point season. Grzelcyk has played through nine NHL seasons and 527 games – and should be stout depth should the Hawks need to let one of their youngsters simmer a little while longer.

Western Notes: Sharks, Celebrini, Landeskog

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The Sharks were also without right-winger Patrick Giles and defenseman Lucas Carlsson due to injury. Giles (lower-body) is still recovering from an offseason surgery that is expected to hold him out week-to-week, while Carlsson (lower-body) is day-to-day, per Curtis Pashelka of the Bay Area News Group. Both players are returning to the Sharks organization this season. Giles played eight games in both the NHL and AHL, before getting shut down by his injury. He scored four goals with the Barracuda and one goal with the Sharks. Carlsson stuck around a bit more – scoring 23 points in 45 games with the Barracuda, and four points in 13 games with the Sharks. It was the second-longest stint he’s had in the NHL, behind the 40 games he played with the Florida Panthers in the 2021-22 campaign. Both players will fight for top-end roles in the AHL when they’re back to full health.

Other notes from the Western Conference:

  • Star San Jose Sharks centerman Macklin Celebrini missed practice on Friday due to illness, per Sheng Peng of San Jose Hockey Now. It was Celebrini’s second absence, after his illness was initially revealed on Thursday. There seems to be no concerns over his ability to play through the preseason, which will keep the second-year pro on track to return to a major role in the Sharks offense. Celebrini scored 63 points in 70 games last season – setting San Jose’s franchise record for the highest-scoring rookie season.
  • Colorado Avalanche fans shouldn’t expect to see captain Gabriel Landeskog on the practice sheet tomorrow. Head coach Jared Bednar told the media that Landeskog will have a scheduled day-off, per Jesse Montano of Guerilla Sports. It’s a sensible plan as the 32-year-old continues to work his way back from a long-term, lower-body injury. He played his first games since 2022 back in April, racking up four points in five postseason appearances. The 2025-26 season will mark Landeskog’s first chance to make a return that will stick and, hopefully, rack up strong scoring to boot. In his three most recent regular season appearances, Landeskog scored 59 points in 51 games; 52 points in 54 games; and 44 points in 54 games respectively. That level of lofty playmaking could prove to be an X-factor for Colorado.

Who Will Be The NHL’s First $20MM Player?

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After Kirill Kaprizov reportedly declined an offer of $16MM a season on a long-term deal, fans across the NHL discussed who would be the first player in NHL history to earn $20MM annually on a contract. The NHL’s revenue is increasing rapidly, thanks to rising television income, betting revenue, and overall global expansion, all pushing hockey-related revenue higher. With this growth, teams are more than willing to pay their star players, who drive much of the growth teams are seeing in local ticket sales, sponsorships, and, most importantly, the game on the ice.

With rising revenues, fans are curious about what kind of AAV Connor McDavid could secure if he chooses to become an unrestricted free agent next summer. McDavid will be a free agent on July 1st next year, although he might not be the first to reach that milestone, even though he will be eligible to sign a deal exceeding that figure.

With the NHL salary cap rising to $104MM for the 2026-27 season, McDavid could sign a deal worth 20% of the total cap, which would amount to $20.8MM annually. However, based on his previous contract, it seems unlikely McDavid would do that, as it would leave the Oilers even more constrained by the cap than they already are. Earlier this summer, it was reported that McDavid would sign an extension of unspecified length, with an AAV of around $16MM. This would be similar to McDavid’s previous extension, signed in 2017 for $12.5MM per season, which was 15.72% of the salary cap at that time. If that $16MM AAV applies to McDavid’s next contract, it would represent roughly the same percentage of the salary cap ceiling as his 2017 extension.

Some folks in hockey circles argue that McDavid should be the first player to surpass the $20MM mark, and they might be right. However, it would be tough to build a team if he consumes that much of the salary cap. People used to argue the same whenever Sidney Crosby accepted less money than he was worth, but Crosby’s three Stanley Cup wins likely justified the money he left on the table. McDavid is an interesting case because he already left money on the table last time and has no championships to show for it. He may be willing to do it again as he nears his 30s, knowing that many of the game’s greatest players—like Crosby, Mario Lemieux, Wayne Gretzky, and Jaromir Jagr—never won a Stanley Cup after turning 30. McDavid may not be able to carry flawed teams to the Stanley Cup Finals if he’s in his 30s and taking up 20% of the salary cap, and that will have to influence his decision on his next contract.

The next batch of potential $20MM players expected to hit the free agent market next July includes the aforementioned McDavid & Kaprizov, as well as Jack Eichel. This occurs during a period when the NHL salary cap is set to rise by nearly 30% over three years. While this is excellent news for these forwards, it likely won’t come with a $20MM AAV. Kaprizov is reportedly trying to get as close as possible to that figure after rejecting a long-term deal worth $16MM per season. Although high, that number is expected to become typical among the NHL’s top players, with many stars poised to sign deals above $15MM annually.

Eichel has developed into a top-line, two-way center with high-end offensive skills but also elite defensive metrics. He is the most complete player outside of McDavid who could be available next summer, but it is expected that he will sign a long-term extension in Vegas soon, which should be around $13MM-$14MM annually.

What about the summer of 2027? Are there any potential candidates to earn $20MM annually? The short answer is one, possibly two: Colorado Avalanche defenseman Cale Makar and Vancouver Canucks defender Quinn Hughes. Makar has been a Norris Trophy finalist for five consecutive seasons and is a two-time winner of the award. He has exceeded 80 points in three of his last four seasons and 90 points in each of the previous two seasons. He is an offensive powerhouse that any team in the league would want, and with a $113.5MM salary cap forecast for the 2027-28 season, he might receive a $20MM offer.

Hughes is also a former Norris Trophy winner, securing the award during the 2023-24 season. He was a finalist last season but doesn’t have the same résumé as Makar and is therefore less likely than him to reach the $20MM mark. Two more seasons of Norris-calibre play would go a long way toward securing that kind of money on a long-term deal, but at this stage, he would be a bit of a long shot to hit $20MM annually.

Auston Matthews is another possible candidate to be the first player to earn $20MM annually, but he faces several hurdles. For one, someone might have signed an extension before Matthews became a free agent. Additionally, Matthews will be 31 when his next contract begins, and it’s uncertain what his game will look like then. There’s also a chance that Matthews’ performance could decline in the coming years, and he may not be able to produce the same numbers he’s used to. Time is working against Matthews in this scenario, and given all of this, he’s probably not going to be the first player to reach $20MM annually.

Finally, some of the top young draft picks have entered the NHL. Connor Bedard is a year away from becoming an RFA, and his performance this upcoming season could reveal a lot about the extension he signs, if he doesn’t sign one before the season begins. If he signs now, he’d likely secure a deal around $10MM annually. However, if he erupts into a 100+ point player, as many expect, he might push closer to a $12MM to $15MM long-term deal. In any case, he isn’t going to sign for $20MM this time, and even if he takes a two- or three-year bridge deal, he probably won’t be the first player to hit that $20MM milestone.

Now that we’ve discussed some of the players who could be the first, we must consider whether it will happen anytime soon. The NHL has a culture of spreading money across the roster, and few teams are willing to go top-heavy because it affects their depth. The Toronto Maple Leafs tried the top-heavy approach for the past decade, and it hasn’t worked out as they hoped. Even Chicago had to adopt it eventually, with Patrick Kane and Jonathan Toews earning $10.5MM annually, marking the start of the end for their mini-dynasty. Teams are also reluctant to allocate 20% of their salary cap to a single player, which suggests we might need a much higher cap before a player reaches $20MM annually.

It’s going to be fascinating to see how this develops. The NHL has never fully embraced the supermax era that other leagues have adopted, and NHL players have seldom sought the maximum salary for various reasons. The NHL was also uniquely positioned because its top star for 20 years, Crosby, never signed a market-value contract, which makes one wonder if that influenced other stars to accept lower numbers. Crosby is obviously nearing the end of his career and is no longer the top player in the league, opening the door for top talents to claim every dollar they can get. Time will tell if they do.

Photos by Nick Wosika-Imagn Images & Ron Chenoy-USA TODAY Sports

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