The Sharks have signed star center Macklin Celebrini to a five-year, $94 million contract extension, setting an NHL record for average annual value at $18.8 million.

Less than three weeks after the Ducks matched a Flyers offer sheet for Leo Carlsson, and will pay the center an AAV of $18 million, San Jose beat the mark by nearly $1 million per year with Celebrini, who just turned 20 last month. The new contract terms begin with the 2027–28 season and run through the 2031–32 campaign.

Celebrini, a key part of a rising youth movement across the league, was due to become a restricted free agent after the 2026–27 season, but was already eligible to sign an extension with the Sharks. Within that structure, Celebrini was well positioned to surpass Carlsson’s financial figures, since he scored 115 points last season, ranking fourth in the league, to Carlsson’s 67, and is nearly 18 months younger.

That scoring total for Celebrini was also the third best in a single season by a teenager in NHL history, trailing only prior tallies by Sidney Crosby and Wayne Gretzky. The Canadian team in the recent 2026 Winter Olympics that won a silver medal additionally included Celebrini. (Carlsson was set to play for Sweden, but did not participate due to injury.)

Celebrini, the first pick in the 2024 NHL draft, is entering the final year of a three-year, rookie-level contract that has a $2.93 million base but also performance bonuses of up to $3.5 million per year. Projected further increases in the NHL salary cap, reaching $104 million in the forthcoming season, are aiding the Sharks’ ability to manage the Celebrini deal.

The additional contract term for Celebrini, meanwhile, easily surpasses the five-year, $75 million extension the Blackhawks recently signed with 21-year-old Connor Bedard, who was selected No. 1 in the 2023 NHL draft.

“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,” said Sharks GM Mike Grier. “We are extremely excited to have secured and committed as the centerpiece of a core of talented players in San Jose.”

The Sharks remain in the midst of a large-scale rebuilding process, and have not reached the playoffs since the 2018–19 season. The team’s 86 standings points in 2025–26, however, was its best showing since that most recent postseason campaign.

The largest overall contract in NHL history remains the eight-year, $136 million deal the Wild has with Kirill Kaprizov.

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