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NHL Betting Odds: Avalanche sign Norris Trophy-favourite Cale Makar to largest contract in NHL history

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Cale Makar isn’t going anywhere.

The Colorado Avalanche announced on Friday they have signed the star defenceman to an eight-year contract extension worth $163.2 million.

Here’s what you need to know.

Make sure to check out Sports Interaction’s complete list of NHL game odds and NHL futures.

Cale Makar

Makar still has one year left on his current deal with a $9 million AAV. His new contract begins in the 2027-28 season and runs through 2034-35 with a record $20.4 million AAV.

The contract extension is the largest deal in NHL history both in terms of total dollars and yearly cap hit.

The 27-year-old is one of 14 players to win the Norris Trophy multiple times after bringing home the NHL’s award for best defenceman in 2022 and 2025. He has been a Norris finalist for six straight years and he is a +275 favourite to win again in 2026-27.

Makar helped the Avalanche secure the Presidents’ Trophy last season after posting 20 goals and 79 points in 75 games. It was Makar’s fourth 20-goal season in his seven-year NHL career.

The Calgary native was a member of Canada’s silver-medal team at the 2026 Olympics, producing six points (2G, 4A) in six games. He scored Canada’s only goal in the gold medal game.

Makar won a Stanley Cup with the Avs in 2022 when he was also named the Conn Smythe Trophy winner, recording 29 points (8G, 21A) in 20 playoff games.

Norris Trophy odds

While Makar is a +275 favourite to win the Norris next season, there is plenty of competition.

Minnesota’s Quinn Hughes is next on the list at +400. Hughes, who turns 27 in October, won the Norris while playing for the Vancouver Canucks in 2023-24. Like Makar, Hughes became eligible to sign an extension on July 1 and a deal with the Wild could come together quickly now that Makar has set the bar.

Columbus’ Zach Werenski and Buffalo’s Rasmus Dahlin are each +600 to win the Norris. Werenski is the reigning Norris winner, but it’s worth noting that no player has won back-to-back Norris Trophies since Detroit’s Nicklas Lidstrom won three straight from 2006-08.

Lane Hutson (+1000) rounds out the top-five Norris favourites. Hutson is entering his third full NHL season and has never missed a game.

Colorado Avalanche

Locking up Makar long-term is the latest move the Avalanche have made to secure the team’s core for the future.

While Makar’s contract doesn’t kick in until 2027-28, Colorado will see top-line forward Martin Necas’ new extension begin this season at an $11.5M cap hit. The Avs have Necas and star centre Nathan MacKinnon each locked up through the 2030-31 season.

Colorado dominated the regular season last year and won eight of their first nine playoff games before a losing in a shocking sweep at the hands of the Vegas Golden Knights. Makar and MacKinnon were both dealing with injuries in that final series.

The Avalanche enter this season at +750 to win the Stanley Cup, trailing only the Florida Panthers (+650). Colorado is favoured to win the Western Conference (+340) and the Central Division (+125). They are +525 to repeat as Presidents’ Trophy winners, trailing Florida and Carolina who are +500 co-favourites.