Macklin Celebrini signs a five-year, $94 million Sharks extension, the NHL’s richest deal

The San Jose Sharks and Macklin Celebrini agreed to a five-year, $94 million contract extension, a deal described in published reporting as the richest in NHL history. The move keeps the young center in a Sharks uniform through the 2031-32 season and immediately changes the team’s salary structure around one of its most prominent offensive pieces.

The agreement also resolves a near-term contract situation. According to the report, Celebrini had one year remaining on his three-year, $2.925 million entry-level contract before signing the extension. That detail matters because it frames the extension as a continuation of an initial rookie deal rather than a midstream replacement, giving San Jose a longer runway for roster planning.

By signing the contract extension, Celebrini becomes the highest-paid player in the NHL, based on the same reporting. In practical terms, the Sharks are making a clear financial statement that their long-term planning will be anchored in his production and development, especially as the franchise works to stabilize a competitive identity after a period of rebuilding.

For Celebrini, the extension length indicates that the organization is treating him as more than a short-term catalyst. The five-year term extends beyond the window typically associated with entry-level contracts and first sizable raises, moving him into the phase of an NHL deal where teams expect consistent top-line impact and leadership within the team’s forward group.

The Sharks’ decision also highlights how valuable contract certainty is for a franchise built around emerging talent. Extending a core player before the final year of an existing contract reduces the risk of an impending negotiation, which can otherwise complicate offseason decisions for both the player and the team.

There are broader league implications as well. A deal of this size, particularly one described as the NHL’s richest, tends to recalibrate expectations for comparable young players on the market. It can also influence how clubs weigh timing for extensions once prospects reach the stage where they are producing at an elite level.

The next question for San Jose is how the team’s surrounding roster fits the new economics. With the cap implications of placing a player at the top of the NHL pay scale, the Sharks will need to balance affordability across the rest of their forward depth, defensive pairings, and goaltending while still keeping enough flexibility to respond to injuries, performance swings, and development needs as the new contract period begins.