Matthew Schaefer and Peter DeBoer now face a contract market reshaped by Macklin Celebrini's record extension.
Celebrini signed a five-year deal carrying an $18.8 million annual cap hit, beginning in 2027-28. The contract makes the San Jose Sharks center the NHL's highest-paid player when it takes effect.
That decision reaches far beyond San Jose. It creates a massive new benchmark for elite young players approaching their second NHL contracts.
No team should feel that pressure more than the New York Islanders. Schaefer remains one year away from extension eligibility, but his next negotiation already looks far more expensive.
The young defenseman produced 23 goals and 59 points across 82 games during his rookie season. He also became the unanimous Calder Trophy winner after delivering historic offensive numbers from the blue line.
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Schaefer insists the money isn't on his mind. He told NHL.com that his agent can handle the business side while he focuses on hockey and what the Islanders are building.
But the Islanders can't treat the situation nearly as casually.
Celebrini's deal raises the Islanders' price
Celebrini's extension moved ahead of Leo Carlsson's $18 million average annual value and Connor Bedard's five-year, $75 million agreement. Those contracts have rapidly changed expectations for franchise players coming off entry-level deals.
Schaefer's position could make his case even more complicated. Top-pair defensemen who drive offense, run a power play and handle heavy minutes carry enormous value across the league.
His rookie production already placed him in rare territory. Another strong season under DeBoer could leave general manager Mathieu Darche negotiating without much leverage.
The Islanders must also consider timing. Waiting longer could allow the market to rise again, especially if another young star signs a deal beyond Celebrini's number.
A bridge contract may lower the immediate cap hit, but it could create an even larger payday later. A long-term extension would demand major money now while buying several prime seasons.
Schaefer says he loves Long Island and believes the organization has something special. That helps, but loyalty won't erase the market established by Celebrini.
The Islanders' biggest challenge isn't convincing Schaefer to stay. It's finding a number that keeps their future cornerstone happy without squeezing the rest of the roster.
Will Matthew Schaefer eventually earn more than Macklin Celebrini?
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