Macklin Celebrini has already established himself as the face of the San Jose Sharks, but his latest contract has given rise to a conversation that stretches well beyond one franchise. His record-setting extension has reignited league-wide discussions about player value, the NHL salary cap, and how elite stars should be compensated.
While the deal guarantees San Jose’s cornerstone remains in place for years to come, it has also prompted strong reactions from an NHL agent.
Allan Walsh Doubles Down After Macklin Celebrini’s $94 Million Extension
Celebrini officially reset the NHL salary market after signing a five-year, $94 million extension with the Sharks, a contract carrying an $18.8 million average annual value that will keep him in San Jose through the 2031-32 season.
The agreement makes the 20-year-old center the highest-paid player in league history on an annual basis starting in the 2027-28 season, but the size of the contract was only part of the discussion that followed.
Former NHL forward Matthew Barnaby started the debate by posting on X, “How’s Allan Walsh feeling about the cap now???”
The question prompted a direct response from the veteran NHL agent, who made it clear that Celebrini’s landmark deal had not changed his long-held opinion of the league’s financial structure.
Walsh replied, “Considering the salary cap has resulted in the transfer of approx $4 billion in revenue from players to owners (2005 to today), my feelings haven’t changed. The fact top NHL players are now making $16M-$18M AAV underscores they would be making $30M+ without a cap.”
Rather than celebrating the record-setting contract as proof that player salaries have reached new heights, Walsh still wants the NHL to run without a cap so that players could receive substantially larger deals.
The extension also revealed another side of the negotiations.
Sharks general manager Mike Grier disclosed that Celebrini never pushed for the maximum contract allowed under the collective bargaining agreement, even though he had every opportunity to do so.
Speaking on Sportsnet, Grier said, “Yeah, I was very happy to hear it and very grateful, to be honest with you. I think he would have had every right to ask for the full max, but for him to come out right away and kind of tell us that he wanted to make sure we had some flexibility down the road and he wasn’t looking to take the max amount of money he could meant a lot to me.”
Grier added that the decision “showed his faith and his commitment to the organization” and called it “pretty important and pretty cool” to hear that level of maturity from such a young franchise player.
Under the league’s projected salary cap, Celebrini could have sought an annual salary of roughly $20.8 million. Instead, his $18.8 million cap hit leaves $2 million in flexibility each season, creating nearly $10 million in savings over the life of the extension.
Celebrini emphasized that winning remains the priority when discussing his future with the organization. In the team’s official statement, he said, “I couldn’t be happier to sign an extension today… We are building something special here. My teammates and I are ready to take another step toward the ultimate goal of bringing a Stanley Cup to this city and its incredible fans.”
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Between Walsh’s criticism of the salary cap and Grier’s praise for Celebrini’s team-first approach, the NHL’s newest blockbuster contract has become about far more than its record-breaking dollar figure.
