Macklin Celebrini is already changing the financial ceiling in the NHL, and the San Jose Sharks made sure they were the team holding the pen.
Just days after signing a five-year extension, the 20-year-old now sits as the highest-paid player in league history. The deal won’t begin until the 2027-28 season, but the number attached to it is staggering: an $18.8 million cap hit, the biggest annual figure ever handed out.
That payday comes on the back of a monster season. Celebrini played all 82 games and finished with 45 goals, 70 assists and 115 points, a 1.40 points-per-game pace that underscored exactly why San Jose moved quickly to lock him in.
There is still some fine print around the title of highest-paid player. Depending on what Jason Robertson, Cale Makar and Quinn Hughes land on their next contracts, Celebrini may never actually spend a day at the top of that list. But for the Sharks, the larger point is simple: they secured their franchise centerpiece on a long-term commitment.
And they did it without maxing him out.
According to a few sources, Celebrini could have pushed for the maximum annual contract of $20.8 million, but chose not to. That left San Jose with some room to breathe, and from the Sharks’ side, there apparently would not have been much resistance if he had asked for every dollar.
Grier says he doesn’t think Hasso would’ve hesitated to give Celebrini a maximum contract had he asked for it. Says he’s thankful that Celebrini left the #SJSharks some wiggle room.
- Max Miller (@Real_Max_Miller) July 29, 2026
The signing bonus does increase what Celebrini will actually take home in the first couple of seasons, but over the life of the deal, he still left meaningful money on the table. That matters for a Sharks team that has a workable cap picture over the next few years, especially with a Will Smith extension still needing to get done.
For San Jose, the benefits are obvious. The club has already locked up Collin Graf to a three-year deal worth just over $4 million annually, and the flexibility created by Celebrini’s contract gives the front office room to keep moving. For a team trying to climb toward the playoff race and eventually a Stanley Cup push, that matters.
Celebrini also gets paid exactly like the player he is: a generational talent who could have asked for more and likely gotten it. Anything below the maximum is a discount for someone at his level, and he still landed the richest annual number in NHL history.
The one real drawback for the Sharks is the term. A five-year deal is good business, but an eight-year pact would have given San Jose far more security. Even so, this contract runs through what should be the team’s contention window in as few as two seasons, which softens that concern.
Extension Grade: A
The length is the only knock, and it’s a small one. Celebrini took less than the maximum, the Sharks gained breathing room, and both sides came away in strong shape.
At $18.8 million a year, the price is enormous. For San Jose, the value is just as clear.
In Other News...
Why Sharks Fans Shouldnt Panic Over This Cap Crunch Yet
The Sharks have spent aggressively enough this offseason to make the cap picture look tighter than it might feel on the surface, with $55.3 million already committed to eight players. After making several additions with a playoff push in mind, it is fair for fans to look ahead and wonder how much room there really is to keep building this roster, especially once the club starts weighing future extensions and new help.
For now, though, there is no reason to sound the alarm. A notable chunk of money comes off the books by July 1, 2027, when key players such as Logan Couture, Barclay Goodrow, Adam Gaudette and Dmitry Orlov are scheduled to become unrestricted free agents, potentially opening more than $20.1 million in cap space. Salary cap management will matter as San Jose keeps shaping the roster, but the current crunch is more of a planning issue than an immediate crisis. [Read more 🡒]
Macklin Celebrini Is Already Setting The Standard Sharks Fans Wanted
Macklin Celebrini is already behaving like the kind of face-of-the-franchise player Sharks fans have been waiting to see. The work starts long before games, with the young center spending extensive time on the ice training, something fellow first-overall pick Gavin McKenna has noticed, and it has not gone unnoticed inside the organization either. General manager Mike Grier has pointed to Celebrinis intense work ethic and the amount of ice time he puts into sharpening every part of his game.
For San Jose, the timing matters as much as the talent. Celebrini recently signed a historic $94 million contract extension, a move that locks in the organizations commitment to him while also raising the standard he is expected to carry. The Sharks know the contract is only part of the story, and the real significance is what comes next: whether Celebrinis habits, drive and day-to-day example can help set the tone for everything the team wants to become. [Read more 🡒]
Sharks Lock In Collin Graf As Young Core Starts Taking Shape
The Sharks have moved quickly to secure one of the more promising pieces of their young forward group, signing winger Collin Graf to a three-year, $12.75 million contract. For a team still trying to shape its next competitive core, locking in an undrafted player who broke through with a strong NHL season is the kind of bet that signals both belief in the player and urgency in the build.
Graf's rise has given San Jose a legitimate success story to point to as it keeps adding layers to its roster. After putting up 21 goals and 46 points in 2025-26, he now looks set to be part of the forward mix for the next three seasons, another sign that the Sharks are starting to define who they want growing together as the rebuild continues. [Read more 🡒]