The National Hockey League (NHL) is experiencing an unprecedented period of financial prosperity as it moves through 2025. A powerful combination of lucrative new broadcast agreements, major sponsorship deals, and a focused push for international expansion has significantly boosted the league's revenue. This financial upswing is directly translating into the wallets of its star athletes, with a new wave of record-breaking contracts setting the benchmark for player compensation across North America and beyond.
The Top Earners: NHL's Highest-Paid Players for 2025-26
The list of the league's top salaries is dominated by elite centers, highlighting the premium placed on this pivotal position. Leading the pack is Leon Draisaitl of the Edmonton Oilers. The German superstar cemented his status by signing an eight-year, $112 million contract extension that took effect this season. This deal makes him the highest-paid player in NHL history with an average annual value of $14 million. Draisaitl's on-ice dominance, alongside Connor McDavid, has been instrumental in Edmonton's consecutive Stanley Cup Final appearances.
Close behind is Auston Matthews, captain of the Toronto Maple Leafs. His four-year, $53 million extension, signed in 2023, guarantees him $13.25 million per season through 2028. Matthews, an elite goal-scorer, held the title of the league's highest-paid player until Draisaitl's new deal commenced.
In third place is Colorado Avalanche center Nathan MacKinnon. His eight-year contract, inked in 2022, includes a massive $85.3 million signing bonus and carries an annual salary of $12.6 million. MacKinnon remains one of the most formidable two-way forces in the game.
Remarkably, generational talent Connor McDavid finds himself fourth on this list. His existing eight-year, $100 million contract pays him $12.5 million per year. In a move that prioritized team success, McDavid signed a team-friendly two-year extension in October 2025, maintaining the same $12.5 million cap hit to ensure the Oilers retain financial flexibility.
A notable tie for fifth place features two wingers who changed teams with identical mega-deals. Both Mitch Marner (now with Vegas Golden Knights) and Mikko Rantanen (now with Dallas Stars) signed eight-year, $96 million contracts in 2025, earning $12 million each season through 2032.
Salary Trends and Positional Breakdown
The NHL's financial structure is clearly trending upward, with elite centers commanding the highest premiums. Four of the top five earners play the center position, underscoring their critical role in driving both offensive success and franchise revenue. The salary cap's significant growth, fueled by recent brand and broadcasting contracts, has allowed this inflation in player wages despite the league's historical financial constraints in certain markets.
Among other positions, defenseman Erik Karlsson of the Pittsburgh Penguins leads all blueliners with an $11.5 million annual salary. He is tied with Toronto forward William Nylander and New York Rangers goaltender Igor Shesterkin. Shesterkin's eight-year, $92 million extension, signed in the 2024-25 season, reset the market for elite goaltenders.
The Future of NHL Contracts and Earnings
While Leon Draisaitl currently holds the crown, his record is set to be shattered soon. Minnesota Wild winger Kirill Kaprizov has signed an eight-year, $136 million extension that begins in the 2026-27 season. This historic pact will carry an unprecedented $17 million annual cap hit, a benchmark that may stand for years.
Player earnings are further amplified by substantial off-ice endorsement deals. Connor McDavid partners with brands like CCM and Rogers, while Auston Matthews leverages the massive Toronto market with several high-profile sponsorships. These deals highlight the growing marketability of the NHL's biggest stars.
Looking ahead, the league's expanding financial influence suggests salaries will continue to climb. New broadcasting agreements and the push into untapped international markets are key drivers. The upcoming free agent classes, potentially featuring stars like Jack Eichel and Cale Makar, are poised to trigger another wave of historic contracts, solidifying the NHL's position in the world of professional sports economics.
