Risky move involving Kiefer Sherwood unfolds with days to go till trade deadline

Just days before the NHL trade deadline, what looked like a potential shakeup in San Jose has taken a surprising turn. Kiefer Sherwood, who had been rumoured to be on the move after being acquired by the Sharks on January 19, appears set to stay put, and for a lot of cash.

Sources indicate that Sherwood is expected to sign a major contract extension with the Sharks in the next day or two. Elliotte Friedman, on The Fan Hockey Show, reported on Wednesday that the deal will be just under $30 million over five years, essentially a $6 million per season commitment.

The move carries some risk. Sherwood is a pending unrestricted free agent who had drawn attention on the trade market, and investing heavily in a player who was recently considered movable raises eyebrows. That said, Sherwood has clearly made an impression since joining San Jose, fitting seamlessly into the lineup and giving management confidence that he can contribute in the long term.

“This morning there were reports that he’s off the market,” Friedman said. “I think that’s true. There is an extension coming, and it’s going to be just under $30M, five years, just under six per season.”

Moments later, insider Chris Johnston confirmed that Sherwood has agreed to a five-year extension with the Sharks, carrying a $5.75M AAV. It includes signing bonus for the first four years and trade protection.

For the Sharks, the decision signals a willingness to invest in continuity rather than wheel-and-deal at the deadline. For other teams, it’s a reminder that even players rumoured to be available can suddenly vanish from the trade radar.

With the deadline only days away, the Sherwood extension may be a potentially risky move this week, proving that San Jose is thinking both short- and long-term as it navigates the final stretch of the season.