Celebrini recently signed a five-year, $94 million extension with the San Jose Sharks carrying an NHL-record $18.8 million annual cap hit. “I actually don’t think it’s gonna be Schaefer,” Kavanaugh said. “He seems like a kind of guy who will take a reasonable value contract that won’t necessarily break the bank.” Schaefer is already the foundation of the Islanders’ next era, but building a Stanley Cup contender will require considerably more than one superstar defenseman. The NHL’s new collective bargaining rules will reduce the maximum extension with a player’s current team from eight years to seven beginning September 16, 2026.