The San Jose Sharks recently signed superstar Macklin Celebrini to a massive contract extension, but San Jose GM Mike Grier also needs to sign youngster Will Smith to a new deal. How much should Smith expect to be paid on his next extension, and how will it affect the rest of the Sharks?
The San Jose Sharks got some nice business done this summer with the lucrative extension for superstar center Macklin Celebrini, but the work isn't done for GM Mike Grier just yet.
The 20-year-old Celebrini signed an eight-year extension worth $18.8 million per-season, setting the upper limit for the franchise's core players.
However, another young star needs a contract extension in San Jose – at least, after this coming season.
That young star is right winger Will Smith, who is coming off a terrific sophomore season in which he posted career-best totals in goals (24), assists (35) and points (59) in only 69 games. In Smith’s rookie season, he put up 18 goals and 45 points in 74 games, so his progression is notable and encouraging.
The Sharks have an embarrassment of riches when it comes to prospects, including second-year center Michael Misa, rookie winger Ivar Stenberg, and defensemen Sam Dickinson and Keaton Verhoeff.
San Jose GM Mike Grier needs to balance his financial books very carefully, and that’s where the question of how much and how long they should be paying Smith on his next contract comes into play.
Smith came in with high expectations as the fourth-overall pick in 2023, and he’s lived up to those expectations. In addition, he’s turning out to be a fantastic linemate for Celebrini, so Smith’s offensive numbers should continue to climb until he’s at least a point-per-game player.
So how much is Smith worth? Signing him at $10 million per-season would be a huge win for Grier. With the consistently-rising salary cap ceiling, it would not be an unreasonable ask, and if you want to make Celebrini happy, you make his linemates happy.
But it’s this writer’s opinion that Smith is worth considerably more than $10-million per year. Signing him to an eight-year-contract in the $100-million range ($12.5 million AAV) makes sense for both parties.
These are the last few weeks that a player can be signed to an eight-year extension. After September 15, 2026, seven years becomes the new maximum term that a player under team control can be signed to. If Grier and Smith want to make that commitment, things must materialize quickly.
That commitment is far from certain, though. Smith may decide to take a higher annual payday with a shorter term like many of the league's top stars have. Considering that San Jose currently has $30.4-million in cap space, they can easily afford to give him a raise that puts him relatively close to Celebrini.
Eventually, there will be a cap crunch with the Sharks. That inevitably happens to all teams. But the beauty of what Grier has built in San Jose is that everything is merit-based. If and when Stenberg, Misa, Verhoeff and Dickinson deliver phenomenal results, the Sharks will pay them accordingly.
San Jose needs to follow up their performance last season by making the Stanley Cup Playoffs in 2026-27. As long as they continue to improve, the team's core of youngsters will earn exceptional raises.
It’s fair to expect Grier will get Smith signed soon, as it makes sense for all parties to find a way to keep the good times rolling in San Jose.
NHL teams are making large commitments to young players more often these days, and Smith and the rest of San Jose’s core almost assuredly will be compensated handsomely sooner than later.
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