Macklin Celebrini and Connor Bedard now sit near the top of the NHL’s pay scale, but the Blackhawks came away with the cleaner number.
On Wednesday, the San Jose Sharks announced a five-year, $18.8 million contract extension for Celebrini. The first overall pick in the 2024 NHL Draft, Celebrini has already established himself as one of the league’s best players, and his new deal reflects that status.
Bedard’s extension landed just under two weeks earlier. The Chicago Blackhawks forward, who went No. 1 overall a year before Celebrini, also signed a five-year contract, but his carries a $15 million cap hit.
Because Bedard was already a restricted free agent, his deal starts immediately. Celebrini’s won’t begin until the 2027-28 season.
The comparison gets interesting when you look at how each player has performed so far. Celebrini has gotten off to the stronger NHL start, and the source material points to his defensive game as a major edge. Offensively, his production through 152 games - 70 goals and 108 assists for 178 points - is being used as the benchmark against Bedard’s 75 goals and 128 assists for 203 points.
Bedard’s last season still counted as a breakout, even if it didn’t quite become the monster year he seemed headed for. An injury in December and January knocked him out for a month, and at the time of that setback he was right with Celebrini in the top five in league scoring. While Bedard was sidelined, Celebrini separated himself.
Even so, Bedard still put together a 30-goal, point-per-game season. It just didn’t match the level Celebrini delivered for San Jose.
That leaves the central question: is Celebrini worth $3.8 million more than Bedard in today’s market? Both contracts place them among the NHL’s top five players by average annual value, but Bedard’s number comes in lower.
Celebrini’s cap hit takes up 16.5% of the Sharks’ salary cap. Bedard’s accounts for 14.4% of Chicago’s. From the Blackhawks’ side, that gap matters.
The deal landscape also traces back to an offer sheet. Neither player would be making this much if the Philadelphia Flyers had not tendered one to Anaheim Ducks forward Leo Carlsson, the No. 2 pick in Bedard’s draft, for $18 million. That move forced both clubs to respond.
For Chicago, the extra $3.8 million in flexibility is a real advantage for Kyle Davidson and his staff as they build the roster. And if Bedard keeps developing and eventually reaches Celebrini’s level on a permanent basis, with health playing a major role, the Blackhawks will be glad he signed when he did.
As the salary cap rises over the next few years, both players should eventually look underpaid. For now, though, Bedard’s contract gives Chicago room to work, and it also shows his commitment to the Blackhawks by getting the deal done quickly and avoiding any offer-sheet drama.
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