How Macklin Celebrini Extension Impacts Matthew Schaefer, NY Islanders

There is some major money being handed out to young stars around the NHL and Matthew Schaefer could be next.

Oct 21, 2025; Elmont, New York, USA; New York Islanders defenseman Matthew Schaefer (48) skates with the puck against San Jose Sharks center Macklin Celebrini (71) during the second period at UBS Arena. Mandatory Credit: Brad Penner-Imagn Images / IMAGN IMAGES via Reuters Connect

The New York Islanders have been keeping a close eye on some of the big contracts that have been handed out this offseason to young players around the league.

They know the time will eventually come when they have to work out an extension with franchise cornerstone Matthew Schaefer. The No. 1 pick in the 2025 NHL Draft, he wasted no time starting to live up to the expectations that come with being selected first overall.

He put together a historic rookie campaign, recording 59 points on 23 goals and 36 assists. The 23 goals tied Hall of Famer Brian Leetch’s mark for the most by a rookie defenseman, and it tied for the league lead amongst first-year players.

The Islanders know they are going to have to open up the checkbook to keep Schaefer in town, likely giving him a blank check. And that has become more evident after the San Jose Sharks signed their own franchise star, Macklin Celebrini, to a massive extension.

Macklin Celebrini extension is great news for Matthew Schaefer

Apr 8, 2026; San Jose, California, USA; San Jose Sharks center Macklin Celebrini (71) takes a shot on goal against the Edmonton Oilers in the second period at SAP Center at San Jose. Mandatory Credit: David Gonzales-Imagn Images / IMAGN IMAGES via Reuters Connect

As shared by Elliotte Friedman on X, the superstar forward agreed to a five-year extension that will pay him $18.8 million annually. He is now the highest-paid player in the NHL, based on AAV, surpassing Leo Carlsson.

Carlsson signed an offer sheet with the Philadelphia Flyers this offseason that paid $18 million annually over the course of five years. The Anaheim Ducks matched, which has put them in a salary cap crunch as a result.

Coming off a season in which he recorded 115 points, scoring 45 goals and handing out 70 assists with a plus/minus ratio of +8, it was only a matter of time until Celebrini signed a lucrative long-term extension with the franchise.

5 x $18.8M

Now the NHL’s highest-paid player (AAV) https://t.co/iZpk5cEkpl

— Elliotte Friedman (@FriedgeHNIC) July 29, 2026

What does this mean for the Islanders? They now have a baseline to work off when discussing long-term contract numbers with their homegrown star.

Schaefer isn’t a forward like Celebrini is, but it would not shock anyone if he approached the max salary, which is 20% of the NHL’s upper salary cap limit. For the 2026-27 season, that max is $20.8 million, and it will only be on the rise as the salary cap continues to climb.

A defenseman getting paid that kind of money would be a seismic shift in spending for the league, but it is something that could certainly happen. Right now, the highest-paid defenseman, based on AAV, is Bowen Byram, who will make $12.5 million annually.

Matthew Schaefer's extension could set records

Apr 4, 2026; Raleigh, North Carolina, USA; New York Islanders defenseman Matthew Schaefer (48) looks on against the Carolina Hurricanes during the first period at Lenovo Center. Mandatory Credit: James Guillory-Imagn Images / IMAGN IMAGES via Reuters Connect

That is likely the starting point for any negotiations between Schaefer and the franchise. And if he builds upon the production he provided as a rookie, that asking price is going to continue climbing.

Given what Celebrini signed for, Carlsson’s $18 million, the $15 million annually that Connor Bedard agreed to, and the rising cap, Schaefer is certainly seeing dollar signs.

If he signs an extension after his second season in the NHL, as Celebrini did, the max he could receive is 20% of an estimated salary cap of $113.5 million. It is expected to rise even more for the 2028-29 campaign to $123 million.

The longer Schaefer waits to sign an extension, the more likely it becomes that he not only shatters the AAV record for a defenseman, but could be in a position to become the highest-paid player in the NHL.