Free Agency is officially underway, and the Sharks got to work quickly with extending one of their core players beyond next season, signing young star William Eklund to a 3-year contract extension.
Eklund’s new contract will kick in at the start of the 2026-27 season, worth 5.6 million AAV (average annual value). Eklund will still be a restricted free agent at the end of this extension.
The Sharks and Eklund opt for a bridge deal rather than a long-term contract, and it makes sense for both sides. For the Sharks, they get to evaluate Eklund for a couple more years to see how he fits long-term with their core, and don’t commit long-term money before the inevitable extension to Celebrini, and potentially Misa and Smith. While Eklund is a talented and well-liked player, he is not guaranteed to be a top-line caliber player. With the volume of forward prospects the Sharks have, they likely want to see who steps up before committing to a long-term, big-money contract. However, also avoid walking Eklund straight to free agency and maintain flexibility down the road with Eklund. On Eklund’s side of the deal with the rising cap, he could be in line for a far bigger extension on his next contract if he continues to grow with the Sharks.
One has to wonder if Eklund’s injury prompted a bridge deal rather than a longer-term contract; however, even without the injury, a bridge deal makes sense for both sides. Eklund suffered a lacerated wrist that required surgery in a tune-up game for the World Championship. He is expected to be back for training camp.
Eklund’s new contract doesn’t affect next year's cap, and with 44 million in space, they need to spend to hit the floor, so expect some more moves throughout the day to hit the floor of the cap.