What happened: San Jose signed Macklin Celebrini for five years, keeping him under contract through 2031-32. He will play 2026-27 on the final season of his entry-level deal before the extension begins.
Why it matters: The contract will make Celebrini the NHL’s highest-paid player when it takes effect. San Jose gains long-term cost certainty around its centerpiece while committing a league-leading salary to its roster core.
By the numbers: The $94 million total averages $18.8 million per season. Against the NHL’s projected $113.5 million cap for 2027-28, the annual hit would consume about 16.6% of the ceiling.
What to watch: San Jose must shape its supporting roster around the new cap charge before it takes effect in 2027-28.