Sharks Sign Macklin Celebrini to Record-Breaking Extension

Earlier today, the San Jose Sharks announced that they have signed 20-year-old Macklin Celebrini to a five-year, $94 million contract extension. The extension carries an AAV of $18.8 million and will kick in before the start of the 2027-28 season. With the league-wide salary cap projected to be around $113.5 million in the 2027-28 season, Celebrini’s $18.8 million cap hit will make up around 16.5% of that total.

The record-breaking cap hit of $18.8 million will top Leo Carlsson’s new $18 million AAV offer sheet he signed with the Philadelphia Flyers, which was later matched by the Anaheim Ducks, when it kicks in the summer of 2027.

Celebrini still has one more year left on his three-year entry-level contract. This extension is set to keep Celebrini in teal through the 2030-31 season and extends one year into his UFA eligibility, buying out one of his UFA years. 

For the Sharks, this deal gives the organization cost certainty around its franchise centerpiece before the salary cap continues to rise. In addition, by signing Celebrini now instead of waiting until next summer, the Sharks may have avoided an even higher price tag while also removing any potential offer sheet threat. 

For Celebrini, the five-year term takes him straight into his prime years while costing him only one year of UFA eligibility, setting him up for another major payday down the road.

Celebrini has had an otherworldly past 12 months. In his sophomore season, he put up 45 goals and 115 points, breaking the franchise’s single-season point record previously held by Joe Thornton. Celebrini also finished fourth in Hart Trophy voting and was a nominee for the Ted Lindsay Award. He was also announced as the cover athlete for NHL 27, becoming the youngest player to ever do so.

Internationally, he posted an Olympic-leading five goals and 10 points in six games at Milano Cortina and captained Team Canada in this summer’s IIHF Men’s World Championship. He was also named the IIHF Male Player of the Year.

With Celebrini now locked up long-term, Mike Grier checks off one of his biggest off-season to-do items. But Will Smith is heading into this upcoming season on an expiring deal, and RFA Collin Graf is still without a new contract. We will see what else Mike Grier and his Sharks will do as training camp approaches.