A Franchise-Defining Commitment
The San Jose Sharks secured Macklin Celebrini's long-term future on Wednesday, signing the 20-year-old centre to a five-year, $94 million contract extension that makes him the highest-paid player in NHL history at $18.8 million per season. The extension begins in 2027–28 and runs through 2031–32, at which point Celebrini will still be just 25 years old.
The deal topples a record that had stood for less than three weeks. Leo Carlsson of the Anaheim Ducks set the previous benchmark on July 9 with an offer sheet worth $18 million annually. General manager Mike Grier pointed directly to that signing as the market-shifting event: "The Leo Carlsson offer sheet changed the whole ecosystem and landscape of players and scale."
115 Points and a Franchise Record
The numbers behind the contract speak for themselves. Celebrini totalled 115 points (45 goals, 70 assists) in 82 games during the 2025–26 season, setting a new Sharks franchise record while eclipsing Joe Thornton's long-standing mark of 114 points from 2006–07. Across the entire league, Celebrini finished fourth in scoring and tied fourth in goals, playing all 82 games without missing a single contest.
San Jose's record in games where Celebrini posted a point was 37–18–5, a figure that makes the case for his value more clearly than any negotiation talking point. Over his first 152 NHL appearances since being selected first overall at the 2024 Draft, the North Vancouver native has accumulated 178 points (70 goals, 108 assists).
Contract Structure: Signing Bonuses Dominate
Of the $94 million total, $89.1 million comes in signing bonuses, with just $4.9 million distributed as base salary across five years. That structure protects Celebrini financially while preserving some cap flexibility for the Sharks. A no-movement clause applies for the first three years of the deal.
Celebrini chose a five-year term rather than the contractual maximum of eight, a decision that provides a route back to the open market before he turns 26. Grier acknowledged the player's goodwill: "We think even before that, Mack would have had every right to ask for $20 million or whatever that number is. We're really thankful he was open to giving us flexibility." Celebrini's own statement kept things simple: "The faith and support that Mr. Plattner, Mike Grier and the entire staff have shown me throughout the past two seasons is proof that we are building something special here."
What This Means for San Jose
The Sharks have not made the playoffs since 2018–19, a seven-season absence that makes this contract the clearest possible statement of intent from ownership. The rebuild now has an undisputed anchor — one locked in at the highest per-season rate in league history.
Celebrini's entry-level deal remains in force for one more season, meaning he arrives at training camp in October still on a rookie contract. The $18.8 million annual commitment begins in 2027–28. Between now and then, Grier will need to assemble a supporting cast capable of ending the playoff drought before the league's most expensive long-term investment has to carry every game on its own.