Editor's note: Sheng Peng is a regular contributor to NBC Sports California’s Sharks coverage. You can read more of his coverage on San Jose Hockey Now, listen to him on the San Jose Hockey Now Podcast, and follow him on Twitter at @Sheng_Peng.
What kind of extension should the Sharks offer forward William Eklund?
Eklund, who is not a free agent this summer, is eligible for an extension on July 1. His entry-level contract expires after the 2025-26 NHL season, which would make him a restricted free agent.
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SIGN UP HERE That means a potential Eklund extension kicks in during the 2026-27 season.
The 22-year-old, the No. 7 overall pick in the 2021 NHL entry draft, made his Sharks debut that season but didn’t become a full-time NHL’er until the 2023-24 campaign.
Since then, the young Swede has improved in obvious ways (from 45 points last year to 58 this season) and in less obvious ways (as documented by Stathletes and SportContract in a recent San Jose Hockey Now article).
So, what are some key facts and figures behind a possible Eklund extension? What about some recent contract comps?
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Eklund’s Case
What are some of the important considerations when talking about Eklund’s potential new deal?
2021: That’s the year Eklund was drafted, with most of the comps that we’ll be looking at will be from players in that draft class.
0.75: That’s Eklund’s Points Per Game this past season. It’s a sizable increase from his 0.58 in his first full NHL campaign.
So, when speaking of comps, we’re looking for an upward trend in production. It also helps that Eklund has produced in consecutive seasons. He’s no one-year wonder.
He’s a winger. Eklund moonlighted as a center last year, but, at the moment, it appears that his NHL future is on the wing. Center is the premium forward position, so it will influence what Eklund ultimately makes.
1:11. That’s what Eklund averaged on the penalty kill per game last season. When it comes to an extension, the penalty kill data point isn’t a deal-breaker. He’s not playing those minutes on a better team, but he’s not just a one-dimensional forward either.
$104 million. The NHL salary cap’s upper limit is skyrocketing. It was $88 million this season, going up to $95.5 million in 2025-26, and projected to go up to $104 million in 2026-27 (and $113.5 million in 2027-28). A direct comp with a contract signed under an $88 million cap doesn’t make sense.
Eklund’s Extension Comps
(Points Per Game is the year when the extension was signed and the percentage of Cap is at the beginning of the extension.)
These are all the 2021 draft class forwards who have played 100-plus NHL games and have signed extensions, except for Cole Sillinger, who projects lower in the lineup than the rest of these examples.
Off the top, Matty Beniers, Wyatt Johnston and Kent Johnson aren’t great comps for Eklund. Beniers and Johnston are centers, and Beniers and Johnson signed their extensions after down seasons. Don’t look for a Johnson-like bridge contract for Eklund.
Guenther and Coronato, however, offer intriguing Eklund comps, at least for a long-term deal.
Perhaps somewhere in between?
Guenther is more of a goal scorer, perhaps a little more valuable than playmaker Eklund. Coronato has had just one productive year, so the Swede has a little more offensive history.
How about a seven-year, $52.5 million extension for Eklund?
That $7.5 million AAV is, suitably enough, 7.2 percent of the projected $104 million cap for the 2026-27 season.
Of course, it’s not a long-term contract or bust for Eklund. But since the 2021 draft class comps don’t provide much direction, let’s look at past comps for shorter deals.
We’re focused exclusively on first post-entry level contracts.
The career of 2018 Philadelphia Flyers’ first-round pick Joel Farabee – now with the Calgary Flames – hasn’t quite worked out as expected.
But in Sept. 2021, the Flyers signed Farabee, coming off a 0.69 Points Per Game season, to a six-year, $30 million contract extension. That $5 million AAV represented 6.06 percent of the $82.5 million cap for the 2022-23 season.
With that in mind, what about a five-year, $31.25 million extension for Eklund?
That $6.25 million AAV would represent six percent of 2026-27’s projected $104 million cap.
Tyson Foerster (0.53 PPG) and Jake Neighbours (0.49 PPG) -- 2020 first-round picks -- signed identical two-year, $7.5 million extensions last season.
That $3.75 million AAV represents 3.93 percent of 2025-26’s $95.5 million cap. That PPG isn’t close to Eklund, but both wingers were coming off 25-plus goal seasons.
Could that mean a two-year, $9 million extension for Eklund?
That $4.5 million AAV is 4.33 percent of 2026-27’s projected $104 million cap.
If Eklund and the Sharks discuss three or four-year extensions, over $5 million AAV seems like a realistic possibility.
Of course, Sharks general manager Mike Grier could choose to allow Eklund to play out the 2025-26 season before committing to the young winger.
That could go either way. As noted, Beniers and Johnson’s teams benefited from down seasons from their young stars.
On the other hand, look at fellow 2021 draft pick Matthew Knies and the Toronto Maple Leafs.
The power winger is a restricted free agent this summer, coming off a breakout 29-goal and 0.75 PPG campaign.
There’s no doubt the Maple Leafs wish they had extended him last summer, when he had one year left on his entry-level contract.
What route will San Jose take when it comes to Eklund’s imminent extension?
Surely, there are plenty of possibilities.