Macklin Celebrini just made NHL history with a record-breaking contract!

The San Jose Sharks knew this moment was coming ever since Macklin Celebrini shattered franchise records during his sensational sophomore campaign. The only question was how much it would cost to keep their generational talent in teal.

Now we have the answer, and it is a historic one.

According to Elliotte Friedman, Celebrini has agreed to a five-year extension worth $18.8 million per season. That average annual value will make the 20-year-old center the highest-paid player in the NHL, surpassing every existing contract on the books when it kicks in for 2027-28 season.

The five-year term buys one UFA year, making him a 26-year-old pending UFA in 2032.

The deal had been building for weeks. Friedman initially reported earlier on Wednesday that a Celebrini extension was "closing in," though the exact structure remained unclear at the time. Speculation about the final number ran wild across the hockey world.

Here is the full breakdown of the contract, via Puck Pedia:

Celebrini 5 year $18.8M Cap Hit.
Year 1: 950K salary & 19.85M Signing Bonus
Year 2: 950K & 19.85M SB
Year 3: 1M & 19.8M SB
Year 4: 1M & 16.1M SB
Year 5: 1M & 13.5M SB, No Move Clause
Years 1-3 are for $20.8M in compensation, which is the most annual compensation allowed in a contract signed this season.
Deal covers 1 UFA season.

Celebrini earned every penny of this contract with a breathtaking 2025-26 season. He posted 45 goals and 70 assists for 115 points, finishing fourth in league scoring behind Connor McDavid, Nikita Kucherov, and Nathan MacKinnon. Those 115 points also shattered Joe Thornton's franchise single-season record in San Jose. Celebrini has often been place in a tier above other young stars like Connor Bedard and Leo Carlsson.

The contract also carries significant context within a rapidly shifting market. Carlsson recently signed an $18 million AAV deal, and Bedard locked in a five-year, $75 million extension with Chicago. Celebrini's deal leapfrogs both, reflecting his elite production and the leverage that comes with it.

Celebrini enters the final year of his entry-level contract carrying a $975,000 cap hit before the new deal kicks in. He becomes a restricted free agent in 2027, which gave general manager Mike Grier valuable negotiating control throughout the process.

The Sharks now have their franchise cornerstone locked up at a number that signals exactly where they believe he is headed. If Celebrini continues on his current trajectory, even $18.8 million per year could look like a bargain before the deal expires.