ST. PAUL, Minn. — While this Colorado Avalanche team in the Twin Cities with the intention of putting a stranglehold on this second-round playoff series, the financial parameters for the next edition of the Avs were firmed up earlier this week.
The NHL announced the salary cap ceiling for the 2026-27 season will be $104 million, which was the reported and projected number. That is an $8.5 million increase from this season, and the Avs have already committed a chunk of that space.
Here’s the good news: This Avalanche team looks primed for a run at the Stanley Cup, and nearly all of the key figures from this group are already under contract for next season. The biggest storyline entering the offseason doesn’t even involve a contract for next season.
Here’s the less good news: The Avs have precious little cap space available this offseason, unless a current regular under contract gets moved. And nearly $2.3 million for next year is gone because the bill for this roster went a little over the limit. It was legal because Brent Burns signed an incentive-laden one-year contract. That’s where the overage is from, but the Avs will be more than happy to work around that issue next year if this group keeps winning.
The Avs have 17 guys from the current roster under contract through 2027 or beyond. They have a little less than $3 million in cap space available, about $2.98 million, . There are four unrestricted free agents — Burns, Brett Kulak, Nick Blankenburg on defense, Joel Kiviranta at forward. Two forwards, Jack Drury and Zakhar Bardakov, are restricted free agents.
So yeah, the players, coaches and fans are all focused on this Avalanche team’s chase of a fourth championship in franchise history. But Chris MacFarland and his group in the front office always have one eye towards the future.
The 2026-27 team should look very similar to the one, especially if the Avs get past the Minnesota Wild and into the Western Conference Final or beyond.
Here are the biggest questions for the offseason, barring any significant injuries in the coming weeks:
Will Cale Makar sign a new megadeal?
Makar has one more year left on his contract, but that makes him eligible to sign a new deal starting July 1. The cap ceiling is expected to keep rising at unprecedented levels — to $113.5 million in the first year of Makar’s new contract and $123 million in the second season.
The maximum cap hit for the 2026-27 season is $20.8 million. But just for reference, by Year 2 of Makar’s new deal, if the ceiling is $123 million, the max cap hit that year will be $24.6 million (which, by the way, will be the first season of Connor McDavid’s next contract).
Nathan MacKinnon famously said the day after Mikko Rantanen was traded that Makar should get $20 million. There’s little question that he would be worth it. The best players in the world have always been underpaid in the salary cap era, from Sidney Crosby and Alex Ovechkin to MacKinnon and McDavid.
Kirill Kaprizov pushed the artificial ceiling on contracts to $17 million per year. Will Makar, or Quinn Hughes, who also has one year left, establish a new standard?
The Avs will want to get a deal done as soon as possible. Makar’s deal won’t have a huge effect on the 2026-27 team, though it could restrict which players the club might pursue to some extent.
Will they be able to keep Kulak?
Kulak has been a great fit. He’s also probably made himself some money this season, with another strong postseason after the previous two in Edmonton. He’ll also be 33 years old next year.
His current contract is at $2.75 million per year. If Kulak really wants to stay and was willing to take a shorter deal and at something close to that figure, the Avs can make it work by trading someone else. Could two or three years at $3.5-4 million work for both sides? Maybe.
But, given the amount of cap space other teams are going to have, and the dearth of quality free agents available, it’s also possible that another team would offer him double his current cap hit on a deal that will run into his late 30s. If that happens, the Avs would almost certainly have to thank him for this run and wish him luck.
Will they be able to keep Drury?
The Avs have other guys who could be the No. 4 center next year behind MacKinnon, Brock Nelson and Nazem Kadri. Nicolas Roy or Parker Kelly could play there. Bardakov could be given another shot at the role. And the Avs could reassess where things stand before the deadline.
But Drury is a really, really good No. 4 center. And he’s a restricted free agent, which means one outcome is the Avs bring him back on a one-year deal, and then he gets to test the open market the following summer. He does have arbitration rights, but Drury didn’t have great numbers this year. It’s harder to argue with intangibles and how much the coach loves you in an arbitration hearing.
If the Avs want to lock him into a longer deal, it would almost certainly mean another regular under contract has to leave. Drury does feel like the type of player who, if the Avs were to win the Cup, would be very in demand if the Avs decided to make him available in a trade.
Will Burns and the Avs want to run it back?
Burns will turn 42 next March. This could be his last ride. But … he’s played pretty well in a lesser role, been a huge hit in the dressing room and most of all, the guy just loves to play. If he does come back, he’ll also be able to take aim at Phil Kessel’s record ironman streak. He’s 57 (regular-season) games away.
If he wants to play, and the Avs want him back, a similar deal to this one (one year, $1 million-ish in salary with incentives) seems pretty easy to put together.
How will the Avs find some flexibility?
The Avs don’t have a bad contract on the books right now. And the longer they play in this tournament, the more the value of some of their players will rise. That could be an issue with trying to retain Kulak, or even Blankenburg if he gets an extended postseason look. But that does help if the Avs need to trade someone.
The most obvious someone is Ross Colton, who has played well since returning to the lineup but has had two snakebitten seasons in a row and was a healthy scratch to start the playoffs. He has one year left at $4 million, which is a fine number for a middle-six forward. And there could be plenty of teams interested in his services, if the Avs decided to prioritize Kulak or need to replace him. Colton could also be the odd man out if the Avs want to do a longer deal with Drury.
