Canadian defenseman Cale Makar (C) is now under contract with the Colorado Avalanche through 2034-35. File Photo by Richard Ellis/UPI | License Photo

Aug. 28 (UPI) -- The Colorado Avalanche signed Cale Makar to a $163.2 million extension, making him the highest-paid player in NHL history, his agency, Bartlett Hockey, announced Friday.

Makar, who was already under contract for 2026-27, is now tied to the Avalanche through the 2034-35 campaign. His new pact carries an average annual value of $20.4 million.

"I am so excited and humbled to continue to wear the Avalanche sweater and represent this incredible organization and community," Makar said in a news release. "I would like to thank the Kroenke family, Joe Sakic and the entire Avalanche organization for their commitment, trust and belief in me. I would also like to thank my wife and family for their constant support, as well as Scott, Brian and Steve Bartlett for their guidance and assistance.

"To the Avalanche fans, thank you for your continued support and for welcoming us to Colorado years ago. Colorado has truly become a second home to us, and we are so grateful to be here. I look forward to getting back on the ice with my teammates and continuing to work toward our goal of bringing the Stanley Cup back to the Mile High City."