San Jose Sharks superstar Macklin Celebrini inked a five-year, $94 million extension this summer with a record-setting cap hit of $18.8 million.
The 20-year-old centre has revealed, though, that he left money on the table in hopes of allowing the Sharks to build a stronger team around him.
Celebrini said he was always out to land under the maximum allowable average annual value of $20.8 million, which is 20 per cent of the current $104 million salary cap.
“That was at the front of my mind throughout the whole negotiation,” Celebrini said Thursday, per NHL.com. “I want to make sure that with where the (NHL salary) cap was going, that the number made sense for the team first and foremost. Making sure that everyone can get paid and that we’re in a good spot to build the way we want to build, I felt like we kind of landed on that number. Keeping a little bit more flexibility for everyone, and I mean it’s not really a bad thing. I’m committed to this team and this organization.”
Celebrini’s $18.8 million average annual will top the record-setting $18 million Anaheim Ducks centre Leo Carlsson signed for earlier this off-season via a Philadelphia Flyers offer sheet when it kicks in next year.
It’s hard to argue that the North Vancouver native is not worth that and perhaps more after finishing fourth in Hart Trophy voting in just his second NHL season.
Celebrini posted 45 goals and 115 points in 82 games with the Sharks, falling just short of willing the team to the playoffs with 56 more points than his next-closest teammate, Will Smith.
Time for Celebrini to wear the ’C’?
He was also named the IIHF Male Player of the Year after posting 10 points in six games at Milano Cortina 2026 and captaining Team Canada at the men’s worlds after the NHL season.
The Sharks have not had a captain on the ice since the 2023-24 season, when Logan Couture last played. The 37-year-old Couture remains signed through this season but he announced in April 2025 that his playing career was over due to ailments relating to osteitis pubis.
Celebrini is open to taking over the role for the club, though he does not believe the letter would change his approach.
“I think that is a decision for (general manager) Mike Grier,” Celebrini said. “I’m comfortable with myself and how I lead. I don’t think it would really change anything in the way I approach every day and do stuff.”
Playoffs next on agenda for Sharks
Moving forward in their rebuild, the Sharks improved by 34 points in the standings last season, falling just short their first playoff berth since 2019.
With their window seemingly opening, Grier overhauled the team’s blueline this off-season, adding defencemen Darnell Nurse, Jacob Trouba and Michael Kesslring. He also signed forward Mason Marchment on July 1 to provide veteran presence.
The Sharks also found more luck in the draft lottery, winning the second-overall pick and selecting forward Ivar Stenberg.
The focus in San Jose is now clearly on reaching on the postseason and growing into a Stanley Cup contender.
“We’re all really excited,” Celebrini said. “It’s a long off-season when you don’t make the playoffs, so I think we’re all really excited to get going here. I know a lot of guys are coming in early, which is awesome to skate together and get ready. I think that’ll help us a lot.”
This summer allowed Grier to lock in key members of the Sharks long term, with some business still to do with Smith scheduled for restricted free agency next year.
Celebrini is under contract through 2032. Marchment inked a five-year, $33.75 million contract, keeping him in San Jose through 2030-31 at a cap hit of $6.75 million. Kiefer Sherwood is also signed until the summer of 2031 at a cap hit of $5.75 million.
Nurse, at an average annual value of $9.25 million, and Trouba, at $8.25 million, are both signed through 2029-30, along with forward Zack Ostapchuk, who is signed at an affordable $2.35 million cap hit.
Forward Colin Graf also secured his future with the Sharks, signing a three-year, $12.75 million contract last month.
San Jose still has $3.35 million available this off-season, per PuckPedia, and could free an additional $8 million if Couture is placed on long-term injured reserve.
