Highest-Paid NHL Players of All-Time
Posted by AJ Lee on 03 06 2018
The history of NHL player salaries showcases how the sport has grown into a major global business. From modest pay in the early decades to record-breaking deals in the NHL cap era, the highest-paid NHL players of all time reflect both the league’s financial expansion and the rising value of top-tier talent.
Today, contracts are shaped by the NHL salary cap, team revenue, and market demand for elite performance. Some top-paid NHL players reached their earnings peak through massive total contracts, while others set records through high average annual values. Breaking down the highest-paid players of all time requires looking at contract size, timing, and how the modern system of NHL contracts works within the salary cap structure.
Modern NHL salaries mirror the league’s broader growth since the NHL was founded. As the league outgrew the Original Six NHL teams, revenue increased, television coverage expanded, and NHL player salaries rose in tandem with the sport’s booming popularity.
How NHL Player Pay Is Measured
Several metrics help explain how NHL earnings are calculated. The most widely discussed figure is average annual value, also called cap hit. Essentially, it determines how a contract counts against the NHL salary cap. Separately, total contract value measures the full payout across the deal’s lifespan. Annual salary reflects the player’s payment in a given season.
Some of the highest NHL contracts also include signing bonuses or front-loaded structures, which affect how NHL player salaries appear year to year. Because of these variables, the highest-paid players of all time can differ depending on total contract value or yearly salary.
The Highest Paid NHL Players
The players below represent several of the most significant deals in league history. Each of these players shaped the market for today’s NHL contracts.
Connor McDavid
Connor McDavid signed an eight-year contract worth $100 million with the Edmonton Oilers in 2017. The deal carried a $12.5 million cap hit, which was the largest in league history at the time.
The contract became one of the highest signed during the NHL cap era, reflecting McDavid’s elite production and status among modern NHL stars. His stellar performance, including multiple Art Ross Trophies, has helped drive earnings growth for top franchise players.
Nathan MacKinnon
Nathan MacKinnon signed an eight-year extension with the Colorado Avalanche in 2022 worth $100.8 million. The deal carried a $12.6 million average annual value and briefly became the highest cap hit in the league.
MacKinnon’s contract illustrates the steady rise in salaries after the league’s financial recovery following the pandemic. His Stanley Cup victory with Colorado only further solidified his place among the top-paid NHL players of the era.
Auston Matthews
Auston Matthews signed a five-year contract extension with the Toronto Maple Leafs in 2023 that carried a $13.25 million AAV, setting a new benchmark for NHL player salaries.
Matthews’ deal reflects both his scoring ability and the financial strength of the Toronto market. As one of the league’s most visible stars, Matthews’ contract shows how elite talent drives the highest NHL contracts.
Carey Price
Carey Price signed an eight-year contract with the Montreal Canadiens in 2017 worth $84 million, with a $10.5 million cap hit. At the time, Price became the highest-paid goaltender in NHL history.
Goaltender contracts often differ from skater deals, but Price’s performance and awards earned him one of the highest contracts among goalies.
Alex Ovechkin
Alex Ovechkin signed a 13-year contract worth $124 million with the Washington Capitals in 2008, then marking one of the largest deals ever signed in professional hockey.
Ovechkin’s long-term scoring success made him one of the most recognizable NHL stars, and it also helped push NHL earnings higher for elite players.'
Sidney Crosby
Sidney Crosby signed a 12-year contract extension with the Pittsburgh Penguins in 2012 worth $104.4 million; the deal carried an $8.7 million AAV tied to his jersey number.
Crosby’s leadership and three Stanley Cup championships established him as one of the defining stars of the modern era. His deal remains one of the most discussed contracts in the cap era.
Shea Weber
Shea Weber signed a 14-year, $110 million contract offer sheet with the Philadelphia Flyers in 2012. The Nashville Predators matched the deal, keeping Weber with the team.
The structure of Weber’s agreement became hotly debated; the heavily front-loaded payments influenced later adjustments to NHL salary cap rules and contract regulations.
The Salary Cap’s Impact on NHL Pay
The advent of the NHL salary cap in 2005 dramatically reshaped NHL player salaries. Before the cap was put in place, teams with larger revenues could easily outspend smaller markets for elite talent.
That’s why the cap created a structured system tied to league revenue. Teams must now balance star contracts with roster depth, changing how top players negotiate deals and how franchises structure contracts.
NHL Salaries Compared to Other Sports
Even with rising NHL salaries, hockey contracts remain smaller than those in the NBA, NFL, or MLB.
Why? It all comes down to total league revenue. Still, the NHL continues to see steady growth in player salaries as broadcast deals expand and international audiences grow.
How NHL Salaries Reflect the League’s Growth
The history of player pay shows how the sport’s business side has boomed. As revenue increases, NHL contracts grow alongside it. Therefore, the league’s economic strength shapes the future of NHL player salaries.
Explore the Gear Used by NHL Talent
NHL stars count on elite equipment to compete at the highest level. You can explore gear trusted by the pros, including hockey sticks, hockey gloves, and equipment from leading hockey brands. Fans can also browse authentic-style NHL game jerseys and NHL practice jerseys.