Disclosed is a fishing reel comprising a rotating spool having a contact surface; a drag plate assembly; the drag plate assembly comprising a drag plate having a surface, a thermal insulating layer lining the drag plate surface and a carbon fiber liner lining the insulating layer; the drag plate assembly being disposed so that the carbon fiber liner abuts the rotating spool's contact surface; and means for compressing the drag plate assembly against the rotating spool so as to effect contact between the drag plate assembly and the rotating spool contact surface; wherein the thermal insulating layer is comprised from a material selected form the group comprised of: cork, polyurethane, acetal, neoprene, Kevlar, ceramic, and combinations thereof; and wherein the means for compressing the drag plate assembly against the rotating spool is either a draw bar type drag, a gear type drag, a hydraulic type drag or hybrids thereof.