The San Jose Sharks have secured their star center, Macklin Celebrini, with a five-year contract extension worth $94 million, setting a new NHL record for average annual value at $18.8 million. This deal surpasses the recent $18 million AAV contract of Leo Carlsson with the Anaheim Ducks by nearly $1 million annually. Celebrini's new contract will begin with the 2027-28 season and extend through the 2031-32 campaign, marking a significant investment in the 20-year-old phenom who was the first overall pick in the 2024 NHL draft.

Celebrini’s extension reflects his outstanding on-ice performance, including a 115-point season in 2025-26, which ranked fourth in the league and was the third-highest single-season point total by a teenager in NHL history after Sidney Crosby and Wayne Gretzky. Additionally, Celebrini helped Canada win a silver medal at the 2026 Winter Olympics, further proving his value internationally. His rookie contract base salary was $2.93 million, but with performance bonuses reaching $3.5 million, the new deal represents a major financial jump aligned with his skyrocketing career trajectory.

The Sharks are still rebuilding and have not made the playoffs since the 2018-19 season, but the team earned 86 standings points in 2025-26—their best since their last postseason appearance. General Manager Mike Grier expressed excitement about locking in Celebrini as the centerpiece of the Sharks' future core, emphasizing his status as one of the premier players in the world in just two NHL seasons. The team’s commitment signals confidence in Celebrini’s role as a foundational pillar during this transition period.

This record-setting contract also comes amid rising NHL salary caps, projected to reach $104 million in the upcoming season, which aids teams like San Jose in managing big-money deals. While Celebrini’s deal set a new average annual salary mark, the highest total contract in league history remains the eight-year, $136 million agreement held by Kirill Kaprizov of the Minnesota Wild. San Jose’s move highlights the growing financial stakes and competition for elite young talent in the NHL.