The San Jose Sharks signed star center Macklin Celebrini to the richest contract in franchise history on Wednesday, a five-year extension worth a total of $94 million. The contract’s average annual value is $18.8 million.
“In just two seasons as a teenager in the National Hockey League and on the international stage, Macklin has established himself as one of the premier players in the world,” Sharks general manager Mike Grier said in a statement. “We are extremely excited to have him secured and committed as the centerpiece of a core of talented players in San Jose.
“As we continue our goal of building a team capable of annually competing for the Stanley Cup, we want to thank Macklin and his representatives for a respectful negotiation process, and acknowledge the flexibility they have provided to the team in how we allocate future dollars towards the team being constructed around Macklin.
Previously, the Sharks handed the largest contract to Erik Karlsson in 2019 — an eight-year extension worth $92 million ($11.5 million AAV) signed following his first season with the team, after San Jose acquired him from the Ottawa Senators. Karlsson spent five years with the Sharks before waiving his no-movement clause to facilitate a 2023 trade to the Pittsburgh Penguins. The Sharks still have $1.5 million retained for this season.
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This deal for the 20-year-old Celebrini, which begins in the 2027-28 season, comes during a summer in which notable young restricted free agents landed massive contracts. Within weeks of each other, the Anaheim Ducks kept Leo Carlsson by matching a five-year, $90 million offer sheet the center signed with the Philadelphia Flyers, and the Chicago Blackhawks re-signed Connor Bedard to a five-year, $75 million contract.
Celebrini’s next contract will have the highest AAV in the NHL — though it remains to be seen if his deal will stay in that position as the salary cap rises to $113.5 million for 2027-28 and potentially higher in subsequent seasons. Among those in line to potentially break the bank are Cale Makar, Nikita Kucherov, Jason Robertson and Quinn Hughes. Connor McDavid, Auston Matthews and Zach Werenski have contracts that expire in 2028.
In just two seasons, Celebrini has already established himself as one of the most exciting players in the NHL while also becoming the face of the Sharks for a new era. The center erupted in 2025-26 after being a Calder Trophy finalist as a rookie. Celebrini’s 115 points last season ranked fourth in the league and finished fourth in Hart Trophy voting. In compiling 45 goals and 70 assists, Celebrini’s point total was nearly double the next highest Sharks player (Will Smith had 59 points).
The Sharks can now turn to Smith for their next significant contractual order of business. Smith’s entry-level contract is also set to expire after the 2026-27 season. But with the rising cap, teams are making a harder push to get their prime RFAs signed well ahead of expiration and not leave them open to the possibility of an offer sheet from another club.
This story will be updated.
