The Sharks have signed center Alex Wennberg to a three-year extension worth 18 million dollars (6 million AAV). His $6 million cap hit makes him tied for the highest-paid forward on the Sharks, along with fellow veteran Tyler Toffoli.
Wennberg has had a resurgent year, with 26 points in 41 games so far, pacing for 52 points. If he keeps this pace, it would be his first time crossing 50 points since the 2016-17 season with the Blue Jackets. His main value, however, comes with his defensive play and ability on the penalty kill. He has been deployed as a shutdown center for the Sharks and has done a good job in that role, for the Sharks, averaging more than 20 minutes of ice time.
Having sold off pending UFA’s the past couple of seasons, the Sharks find themselves in the thick of the playoff hunt this year. Wennberg has been a key piece in their success this season, extending him now eliminates what would have been a tough decision come the trade deadline.
The contract itself is an overpay, but given the rising cap, it's hardly a significant issue. Wennberg has established himself as a key leader for the Sharks, and retaining him was always the ideal scenario. Given the amount of future cap space, the Sharks can easily afford to overpay a key player like Wennberg for 3 years while their young players remain cheap.
Wennberg on signing with the Sharks, via San Jose Hockey Now
“We loved San Jose from the second we got here…Hard to keep in the emotions because it's just something that I always wanted…it's been a good week and it couldn't have ended it better.”
The week really couldn't have been much better for Wennberg earlier; he was named to Team Sweden's Olympic roster, a testament to his value around hockey circles.
The Wennberg extension is a clear sign that the Sharks' focus for the season is starting to shift, the team is ahead of expectations, and it wouldn't be surprising to see the team look to add heading into the Olympic break and trade deadline.