Macklin Celebrini has added another achievement to his rapid ascent, putting pen to paper on a landmark agreement with the San Jose Sharks. The 20-year-old forward committed to a five-year, $94-million contract, securing his place with the organization through the 2031-32 campaign.
This new pact follows a spectacular season where Celebrini tallied 45 goals and 115 points, drew Hart Trophy consideration, suited up for Canada at the Olympics, and wore the captain’s ‘C’ at the world championships. His contract now carries the highest average annual value in NHL history, sitting at $18.8 million.
That number edges out Leo Carlsson, whose $18-million AAV came about through an offer-sheet scenario with the Philadelphia Flyers. But unlike Carlsson’s situation, Celebrini’s record-setting deal was widely anticipated, given his emergence as one of the league’s premier young talents.
Comparing Macklin Celebrini’s Contract to NHL Legends
Celebrini’s extension has sparked immediate comparisons to the initial major deals signed by past faces of the league, such as Connor McDavid and Sidney Crosby.
McDavid inked an eight-year, $100-million extension with the Edmonton Oilers after his entry-level deal wrapped up. That contract carried a $12.5 million AAV, which represented 15.7 per cent of the salary cap during its first year.
As the cap climbed, McDavid’s deal became more manageable for Edmonton. In the opening six seasons, his cap hit stayed near 15 per cent, then dipped to 14.2 per cent in year seven and 13.1 per cent in the final year.
Crosby took a similar route earlier in his tenure with the Pittsburgh Penguins. Following his entry-level contract, the captain signed a five-year, $43.5-million deal worth $8.7 million per season, which accounted for just over 15 per cent of the cap in its first year.
NHL Salary Record and the Ripple Effect of Celebrini’s Deal
While Celebrini’s $18.8-million AAV far exceeds the raw numbers of McDavid’s or Crosby’s early contracts, it also consumes a larger slice of the salary cap.
In the first year of his agreement, Celebrini’s contract will take up 16.6 per cent of the projected $113.5 million cap ceiling for the 2027-28 season. That percentage sits slightly above the initial cap impact of McDavid’s and Crosby’s first major extensions.
The closest parallel might be Alex Ovechkin’s historic deal from 2008. Coming off his entry-level contract, the Washington Capitals star signed a 13-year, $124-million agreement, with his $9.5-million AAV representing 16.8 per cent of the cap in the opening season.
San Jose Sharks’ Road Ahead After Macklin Celebrini’s Contract
The primary hurdle for San Jose will be balancing Celebrini’s contract against the rest of their youthful core. Will Smith, the team’s fourth overall pick in 2023 and Celebrini’s teammate, is slated to finish his current deal after next season.
Michael Misa, selected second overall in 2025, has two years left on his contract, while prospect Ivar Stenberg will eventually need a new agreement once his entry-level deal concludes.
The Sharks still have some flexibility, but several sizable contracts will shape their future decisions. Darnell Nurse and Jacob Trouba are due to earn a combined $17.5 million per season over the next four years, while Mason Marchment is set to make just under $7 million annually for five years.
Salary Cap Pressures for Rising NHL Stars
San Jose’s predicament mirrors the challenge in Anaheim following Leo Carlsson’s $18-million AAV deal. Carlsson’s contract takes up an even bigger portion of the Ducks’ cap space, hitting 17.3 per cent in its first season.
Anaheim also has to plan for future talks with Cutter Gauthier, who posted a 40-goal season while pacing the team in scoring, plus Beckett Sennecke, who has two years remaining before his next contract comes due.
The Oilers had to juggle major contracts for McDavid, Leon Draisaitl, Darnell Nurse, and Evan Bouchard, while Pittsburgh managed the deals of Crosby, Evgeni Malkin, and Kris Letang. Both franchises built competitive lineups around those stars, even when cap management got tricky.
For the Sharks, Celebrini’s contract arrives as the salary cap is projected to keep rising, and the timeline for their other young players’ extensions is more staggered. Still, a record-setting deal can create added strain when multiple gifted players need big raises in quick succession.