Operating under a salary cap remains a challenging endeavor for NHL general managers. They must ensure they can ice a competitive team while finding the right balance between investing in their best players and surrounding them with a solid supporting cast. Most general managers try to identify which young players will blossom into stars, making efforts to sign them to long-term contracts in hopes that those deals will turn into bargains as the players reach their prime. As the league emerges from the flattened salary-cap era caused by the two COVID-shortened seasons earlier in the decade, player salaries are rising along with the cap as hockey-related revenue increases. This shift complicates the ability of general managers to secure players under long-term, salary-cap-friendly contracts.
One standout example is Nick Suzuki of the Montreal Canadiens. Coming off a successful underdog run to the 2021 Stanley Cup Final, former general manager Marc Bergevin signed Suzuki to an eight-year contract extension. At that time, Suzuki had demonstrated promising potential with a 41-point sophomore season followed by a team-leading 16 points in the playoffs. His current annual average value (AAV) of $7.9 million is proving to be a valuable contract for the rebuilding Canadiens. Appointed team captain in September 2022, the 25-year-old center has developed into an effective two-way forward and pivotal player in the team's current direction. Since taking on the first-line role, Suzuki's production has consistently increased, with point totals of 61, 66, and 77 in consecutive seasons. His ability to mentor younger talents like Juraj Slafkovský has boosted the latter's performance as well. Though the Canadiens are in the early stages of their rebuilding process, Suzuki's performance and contract could position him among the elite centers in the NHL.
Another notable player is Matt Boldy of the Minnesota Wild. Selected in the first round of the 2019 NHL Draft, Boldy made a name for himself with a solid 39-point performance in his rookie season, followed by a remarkable 63-point campaign, which earned him a seven-year contract with an AAV of $7 million. This contract reflects a considerable increase after just two seasons in the league, but Boldy has lived up to expectations. He showcased his value during the first season of this deal, recording 29 goals and 69 points in 75 games. His contributions last season were affected by an upper-body injury that sidelined him for seven games, but he remains an integral part of the Wild's core, finishing second in team scoring. His current performance continues to impress, boasting 15 points in 14 games as of November 8, including multiple game-winners. With anticipated salary negotiations looming for superstar teammate Kirill Kaprizov, Boldy’s contract presents a cost-effective solution for the Wild moving forward.
The Edmonton Oilers faced skepticism when they signed Zach Hyman to a seven-year contract worth an AAV of $5.5 million on July 28, 2021. Critics believed the deal was overly lengthy for a player who was 29 at the time. However, Hyman has significantly exceeded expectations, finding offensive success while playing alongside Connor McDavid, reaching career-high production levels. Over the past three seasons, he has amassed 112 goals to rank 12th among NHL scorers. Maintaining a consistent scoring pace remains a question as Hyman ages, but he is expected to deliver solid contributions moving forward.
Josh Morrissey of the Winnipeg Jets, one of the oldest players on this list, signed an eight-year extension in September 2019 with an AAV of $6.3 million. Initially, this deal received mixed evaluations, but Morrissey’s development over the past season has shown that he is more valuable than ever. Rebounding to post a career-high 76 points last season, Morrissey was a finalist for the James Norris Memorial Trophy, exemplifying his growth and adaptation through previous challenges. His performance has been instrumental in the Jets' success, further establishing this contract as a favorable one as they look to compete.
Miro Heiskanen stands out as a key player for the Dallas Stars, who are strong contenders for the Stanley Cup. With consistent high-level performance, Heiskanen ranks among the league's most reliable defensemen. His contributions have not gone unnoticed despite a lack of individual awards recognition. Signed to an eight-year deal with an AAV of $8.5 million, Heiskanen's skill set positions him firmly within the team's core, allowing them substantial flexibility with their salary structure as he continues to improve.
The New York Rangers have excelled in recent seasons, largely due to Adam Fox's impact on both their defense and success in the playoffs. After winning the James Norris Memorial Trophy as a rookie, Fox signed a seven-year extension in November 2021 with an AAV of $9.5 million. His continued evolution as a premier defenseman is exemplified by three consecutive seasons exceeding 70 points. Now 26, Fox's contributions are crucial to the Rangers' future, solidifying his status as one of the league's elite defensemen on a contract that remains favorable.
A significant transaction was made by the Florida Panthers when they acquired Matthew Tkachuk from the Calgary Flames. Signing him to an eight-year contract with an AAV of $9.5 million, the Panthers aimed to bolster their scoring capabilities with a player coming off a career-high 104 points. Tkachuk not only exceeded expectations but also became an essential force in leading the Panthers to the Stanley Cup Final. Although he experienced a slight dip in point production, his resilience during the playoffs demonstrated his value, making his contract a sound investment.
Jack Hughes of the New Jersey Devils signed an eight-year contract extension in November 2021, valued at an AAV of $8 million. After a rookie season hampered by injuries, Hughes rewarded the Devils with a stellar performance in 2022-23, setting a franchise record with 99 points. While last season posed challenges with injuries, Hughes remains a vital component of the team’s core, and his contract stands as one of the league's most beneficial as he continues to develop.
Quinn Hughes, a defenseman for the Vancouver Canucks, entered his six-year contract in October 2021 with an AAV of $7.9 million. A rising star, Hughes produced impressive numbers early in his career, making him an essential player for the Canucks. His performance peaked during the 2023-24 season, during which he captured the James Norris Memorial Trophy after leading all NHL defensemen in points. As one of the league's premier puck-moving defensemen, Hughes' contract offers significant value for the Canucks, especially as he continues to demonstrate his growth.
Lastly, Cale Makar of the Colorado Avalanche, a recognized superstar, has solidified his status through numerous accolades, including the Calder Memorial Trophy and James Norris Memorial Trophy. The Avalanche secured Makar with a six-year deal carrying an AAV of $9 million, which now appears as an exceptional investment considering his impact. Now, at 26, Makar is a cornerstone of the franchise's success and a critical player to watch over the coming seasons.
