Macklin Celebrini set to become NHL's highest-paid player after massive Sharks extension
Photo credit: IMAGN IMAGES via Reuters Connect
The San Jose Sharks have signed Macklin Celebrini to a five-year extension worth $18.8 million annually.
The term is the real story.
Frank Seravalli reported the announcement, and the average annual value is the highest in NHL history. It passes the $18 million Leo Carlsson carries in Anaheim.
Celebrini produced 115 points and 45 goals last season, breaking Joe Thornton's San Jose Sharks franchise record. He has yet to play an NHL playoff game.
The comparison to Carlsson is misleading. His cap hit begins in 2026-27 against a $104 million ceiling, which is 17.3 percent of the cap.
Celebrini's deal begins in 2027-28, when the upper limit rises to $113.5 million. His $18.8 million takes up 16.6 percent.
Why this record is smaller than the last one
So the richest contract in league history eats a smaller share of the payroll than the one it just passed.
The maximum allowed in 2027-28 is $22.7 million, and Celebrini signed nearly $4 million below it.
That is the discount he told ESPN he would consider. It arrived in percentage terms rather than headline terms.
What five years actually buys
The bigger decision was term.
Until September 15, general manager Mike Grier could have offered eight years, a window the new collective bargaining agreement closes forever.
Celebrini declined it. Five years carries him through 2031-32, at which point he holds eight accrued NHL seasons.
Seven qualifies a player for unrestricted free agency. He reaches the open market in July 2032, at age 26.
No franchise center in the salary cap era has arrived there that young. San Jose bought five prime seasons and surrendered every year after them.
The Sharks missed the playoffs by four points last season, with Will Smith, Michael Misa and Sam Dickinson still on entry-level contracts.
That window and this contract now expire together.
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