Macklin Celebrini’s new five-year extension with the Sharks did more than take San Jose’s star off the board. It also added another loud data point to the growing RFA market, and that matters for the Flyers as they look ahead to Matvei Michkov’s next contract.
Celebrini agreed to a deal worth $18.8 million annually on Wednesday, removing him from the 2027 RFA class. He was never really expected to reach the open market, and if he had, the process likely would have looked a lot like Connor Bedard’s talks with the Blackhawks - the kind of situation that tells other teams not to waste time on an offer sheet.
Still, the league has already shown it can get weird. The Flyers’ own five-year, $18 million-per-year offer sheet for Leo Carlsson is proof enough of that.
That move is expected to put a target on Philadelphia’s back when it comes to future RFAs, which makes timing everything. The Flyers will want to lock up their own young players before anyone else gets ideas. Michkov, their 2023 seventh overall pick, becomes an RFA on July 1, 2027, though he can negotiate a new deal right now.
The winger’s first two NHL seasons give both sides plenty to think about. In 2024-25, Michkov broke out with 26 goals and 63 points in 80 games.
In 2025-26, he dipped to 20 goals and 51 points in 81 games. That second season doesn’t erase the first, but it does make the negotiation a little more complicated.
The current market is doing its part to complicate things, too. Carlsson landed $18 million a year.
Bedard got $15 million. Celebrini is now set to make $18.8 million starting in 2027-28, the highest salary in the league.
All three deals run five years and carry the players to unrestricted free agency.
Michkov isn’t in the same lane as those centers, and wingers usually don’t command the same money anyway. But the broader point still applies: he’s a young player with franchise-cornerstone upside, and that kind of profile is getting expensive fast.
With Celebrini locked in, Michkov joins a group of notable RFAs expected to be available next summer, alongside the Sharks’ Will Smith, the Blue Jackets’ Kirill Marchenko, the Kraken’s Shane Wright, and the Blackhawks’ Artyom Levshunov. The Flyers would clearly prefer not to let this drag into that window.
Michkov’s number probably won’t come close to the massive figures handed to the top young centers. But the longer Philadelphia waits, the more the price can climb.
One deal worth watching is Ivan Demidov’s. After his first full season with the Canadiens, Demidov signed an eight-year extension worth $9.15 million annually.
He put up 19 goals and 62 points in his rookie year, which is close enough to Michkov’s first season to make the comparison useful. The extra three years on the contract suggest Montreal may have gotten a discount for term.
Marchenko’s next deal could matter too, though he is nearly five years older than Michkov. Will Smith’s extension could also shape the conversation, especially given how similar their first two seasons have been.
After Year 1, Michkov looked like he might be headed for a monster payday. Year 2 cooled that down a bit, and now both sides may be willing to wait. The Flyers might want to see another step before paying top dollar, while Michkov may not be eager to sign low after a down year.
The encouraging part for Philadelphia is that Michkov appears to have had a strong summer getting back in shape and putting in the work. A Year 3 rebound is very much on the table. If that happens, Demidov’s contract could end up looking like the best guide for Michkov’s next deal - though the latest wave of RFA extensions could push the number even higher.
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Matvei Michkov Just Sent Flyers Fans An Important Offseason Message
Matvei Michkov has spent much of his offseason back in Russia, working alongside other NHL players and a Flyers coach as he gears up for his second season in North America. The 2023 first-round pick has been vocal about the habits he believes matter most at this stage of his career, stressing preparation, conditioning and eating right as the foundation for what comes next.
Philadelphias young winger also said he expects to return to the U.S. in early August, giving the Flyers another sign that he is treating this summer like a serious step in his development. Michkov has also been paying attention beyond his own workout routine, offering thoughts on Trevor Zegras new deal and welcoming the buzz around LeBron James landing with the 76ers, but for Flyers fans the bigger takeaway is how intent he sounds on arriving ready. [Read more 🡒]
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For the Flyers, it is another reminder that a player with size, experience and a defined role can draw attention even when a team is not actively shopping him. Ottawa GM Steve Staios has said he feels good about the depth already in place, but the search for stability on defense tends to keep these conversations alive, especially when a club is trying to protect its younger blue-liners and add a more established presence. [Read more 🡒]