The San Jose Sharks have signed forward Kiefer Sherwood to a new deal, just weeks after trading for the 30-year-old. In a press release from the team this morning, the Sharks announced the Sherwood will stay with the team through the 2029-2030 season. The deal pays Sherwood $5.75 million per season.
“We are very excited to have Kiefer remain in San Jose and be part of the group that we are building,” said General Manager Mike Grier after the contract was announced. “The ingredients he brings to our line-up on a nightly basis blend extremely well with the skillsets of his teammates, and we look forward to his contributions in the years to come.”
For Sharks fans, it’s a hefty hit for a player who has never broken the 20-goal barrier — he got close last season, scoring 19, and is two away this season at 18. That said, the salary cap continues to go up and as noted stat sheet watcher Dom Luszczyszyn noted in a recent post, it might be time to recalibrate market rates given what players are now earning.
What could Sherwood realistically be for the Sharks?
Honestly, he’s not going to be the top-line forward the Sharks are looking for moving forward, but that’s okay. Sherwood can help form an impactful second or third line alongside players like Alex Wennberg and Tyler Toffoli, offering the Sharks a veteran presence that should set San Jose up for the playoffs moving forward.
The good news for Sharks fans is that any of these three players can play up the lineup in the event of injuries and not miss a stride, something the Sharks have missed in past seasons when players were already playing above their level. For the next few seasons, Sharks fans should think of Sherwood as a middle of the lineup player.
What are the cap implications of this deal?
Sharks’ fans who have been around more than a few years may also still be worried about the cap and that’s understandable. Spending close to $6 million on a player like Sherwood can be scary, but not to worry. There’s plenty of space.
When his contract kicks in next season, the cap is expcted to be at $104 million. The Sharks have a projected cap hit of $55.06 million committed with 13/23 players signed, according to Puckpedia. That’s nearly $50 million for 10 players, plenty of room to make things happen.
Plus, you have to remember that the team’s top scorer, Macklin Celebrini, is still on his entry-level deal of $975,000.
After the 2026-27 season, the cap will go up approximately $9.5 million, but Celebrini will be on his next deal, so we’ll call it a wash and then some because the kid is getting paid. Will Smith and Yaroslav Askarov also need new deals.
That said, Sherwood’s deal won’t hurt the team too much. Remember, Michael Misa will still be making $975,000 and Sam Dickinson will still be getting paid $943,000. So, for the near future, it’s easy to see how “overpaying,” even slightly for Sherwood, is something the Sharks can manage in this salary cap era.
