This afternoon the San Jose Sharks locked up pending free agent center Alexander Wennberg as first reported by Sheng Peng of San Jose Hockey Now.
The team went on to officially announce that the deal is for three years at a $6MM AAV.
Signed to a two-year deal worth $5MM per season in 2024, Wennberg has enjoyed playing a larger role on a lesser team of late. An eventual deal to a top contender was likely in mind, but today’s news indicates that San Jose sees Wennberg as much more than merely a veteran placeholder. In a thin trade market for centers, GM Mike Grier could have added even more futures to his loaded cupboard. Yet especially given their step forward this season, the Swede will stay with the Sharks for the foreseeable future and help them blossom into a serious contender in the late 2020s. After so much turnaround in recent years, the core is starting to solidify.
At a $6MM price tag through his age-34 season, the figure for Wennberg is indicative of a limited free agent market, especially down the middle. With another forward now erased from the board, Utah’s Nick Schmaltz remains the likely top center available. The 29-year-old is peaking at the right time, with 36 points in 42 games, and would be wise to hit the market with another counterpart now out of the picture.
As for Wennberg, AFP Analytics predicted that he’d be due for a four year extension worth $4.8MM per season. Therefore, the more favorable three year term came with an added cost, enough to sway Wennberg away from the open market, and San Jose comfortably has the cap room to do so. Macklin Celebrini and Will Smith remain on their entry level deals for one more season, and the Sharks will also have Jeff Skinner’s $3MM coming off the books this summer, along with over $15 million across practically their entire defense core.
Once a high end prospect for Columbus, Wennberg broke out in 2016-17 with 56 points, seemingly on his path to become a high end offensive top six driver. Since then, he’s had no more than 38 points in a season, ending up a more defensive center with playmaking ability. He made stops in Florida, Seattle, and New York, before coming to San Jose on a generous deal which helped the rebuilding club fill the void of Logan Couture while reaching the cap floor.
Wennberg posted 35 points in 77 contests last season, but especially with the team playing much better overall, he’s taken a step forward with 26 in 41 games. On most contenders, Wennberg would be a true third line center, but clearly he enjoys playing a key role on a dynamic young team, earning more salary to do so. He posts strong defensive and playmaking metrics, proving to be a highly valued supporting piece.
Above the .500 mark at the midway point, San Jose sneaking into the playoffs still seems unlikely, but considering their progress under Head Coach Ryan Warsofsky, the team will be a threat for the duration of Wennberg’s deal. With an abundance of assets and the unique opportunity to overhaul their back end this summer, Grier checks a big box today, with his forward corps mostly sorted out.
Today’s news is a nice morale boost for the group as they return to action on Tuesday, aiming to maintain their playoff push and cap off the rebuild ahead of schedule.
Photo courtesy of Jerome Miron – Imagn Images.
Meh, guess we have the cap space. He could end up being the highest paid 4th liner in the league by contracts end. The term is right.
Yikes!! 😬
I mean, good player, but I’d say it’s an overpay. Gotta spend wisely, but this contract doesn’t do that if he doesn’t score 15 goals at least twice during this deal.
If it is an overpay then you must think that they could have signed him for less. Please explain how much they could have paid him and why they did not. Thanks.
3×4.5 is what I would’ve signed him to. They probably didn’t to ensure that they got him back with 100% certainty, so they felt the need to pay him more than his true value. With a low payroll, it doesn’t matter as much.
I’ve liked Wennberg since his kraken days. Really thought they should’ve kept him to mentor Matty back when those first rotations started to run through the team. There was some fallout with the team for trying to market him as a sex symbol too that likely played a role, but he never brought negative energy to the team or the games. He’s good on the PK and clearly SJ values his leadership, so seems like a pretty great fit for 3×6 to me. It would be foolish to have him on the 4th line in 3 years time. 2-3C for the playmaking, defensive chops and leadership is good spending I think. Plus he can score when you really need one.
Yeah sure, PuT WiLl SmItH oN tHe 4th lInE iNsTeaD of WenNbeRg… Look at the depth chart and you’ll see why he isn’t going to be 2C or 3C by 2029; it’s not a statement on Wennberg’s ability.
Pretty sure multiple people have said that Wennberg has one of the top hockey IQs in the league. He does more than put up points.
“He posts strong defensive … metrics”.
His oiSV% of 86.9 is the 5th worst (out of 27) on the team.
His PDO of 97.3 is the 8th worst (out of 27).
His -12 is the 3rd worst, despite being 11th in oZS%.
The writer obviously hasn’t bothered to look at these numbers before writing. And neither has Greer before giving him $6M.
$5M would be a fair deal. But the term is just right.
that would be a fair statement if oiSV% or PDO were defensive metrics lmfao