The San Jose Sharks signed budding superstar center Macklin Celebrini to a new NHL-high cap hit on Wednesday.
The 20-year-old signed a five-year contract extension worth $18.8 million in average annual value. That price tag will make him the highest-paid player in the NHL annually, surpassing Anaheim Ducks center Leo Carlsson, who's set to earn $18 million per season after his team matched an offer sheet from the Philadelphia Flyers.
"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 GM 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.
Celebrini earns this deal after scoring 45 goals and 70 assists for a franchise-record 115 points in his sophomore season. His point total was the third-most by a teenager in NHL history.
He ranked fourth in points and tied for fourth in goals in the NHL, and he was a finalist for the Ted Lindsay Award as the NHL's most outstanding player and finished fourth in Hart Trophy voting.
Those numbers dwarf his previous bests from his rookie season, when he registered 25 goals and 63 points in 70 games.
Celebrini's entering the final year of his entry-level deal, and his contract extension will kick in during the 2027-28 season.
"I couldn't be happier to sign an extension today," Celebrini said. "The faith and support that (Sharks owner) 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.
"My teammates and I are ready to take another step toward the ultimate goal of bringing a Stanley Cup to this city and its incredible fans. I can't wait to get going.
WHAT COMES NEXT FOR SAN JOSE?
Celebrini is just one of the young, talented forwards on this Sharks roster who will be receiving large contracts in the coming years.
Will Smith is going into the final season of his entry-level contract. Michael Misa is establishing himself as an NHL player, and his entry-level deal expires following the 2027-28 campaign. And the second overall pick from the 2026 draft, Ivar Stenberg, is expected to be a star in this league and will eventually be paid accordingly.
"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," Grier said.
As for this upcoming season, the Sharks have about $7.6 million in cap space and roughly $34.7 million in projected space in 2027-28, according to PuckPedia.