SAN JOSE – The San Jose Sharks have believed for some time that forward Kiefer Sherwood was an ideal fit for their team as they try to build a Stanley Cup-contending roster.
Once Sherwood arrived in San Jose in January after being acquired from the Vancouver Canucks, he, too, saw the potential.
On Wednesday, the Sharks spent what was necessary to keep Sherwood, signing him to a five-year, $28.75 million contract extension that runs through the 2030-31 season, when he will be 36. The deal makes the physical Ohio-born winger one of the highest-paid players on the team, for now, and is the biggest contract Mike Grier has given to any player in his four seasons as general manager.
“When the trade happened, (we) didn’t exactly know where (negotiations) would go. So it was a little uneasy at times,” said Sherwood, who had been a pending unrestricted free agent. “But all that to say, we got here and just (fell) super in love with being here so far, and I’m just really excited to continue to grow this future together with this group.”
The Sharks began scouting Sherwood more than two months ago and determined that the forward’s skill set and in-your-face style were what they wanted for their top-nine forward group. So far this season, Sherwood has 18 goals and 25 points in 49 games, including a goal and an assist in San Jose’s 7-5 win over the Montreal Canadiens at SAP Center on Tuesday.
Sherwood also had five hits in the win, giving him 238 for the season, second-most in the NHL.
In the victory, Sherwood caused a Canadiens turnover to help set up center Alex Wennberg for a second-period goal, then scored what proved to be the game-winner late in the third period as the Sharks earned their third straight win. Sherwood’s points were his first two in five games with the Sharks.
“We are very excited to have Kiefer remain in San Jose and be part of the group that we are building,” Grier said in a statement. “The ingredients he brings to our lineup 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.”
The #SJSharks signed 30 y/o F Kiefer Sherwood to a 5 year $5.75M extension
Yr 1 & 2: $4.5M Salary, $2.5M Signing Bonus
Yr 3: $4.15M, $2M
Yr 4: $2.4M, $2M
Yr 5: $4.2M
Yr 1: NTC, Yr 2: 16 NTC, Yr 3: 13 NTC, Yr 4: 10 NTC, Yr 5: 5 NTC
Rep’d by Judd Moldaver @wassermanhockey…
— PuckPedia (@PuckPedia) March 4, 2026
The contract’s average annual value of $5.75 million is just under the deals for fellow forwards Tyler Toffoli and Wennberg, whose cap hits for next season are $6 million each. Defenseman Dmitry Orlov is the Sharks’ highest-paid player as his two-year deal carries a $6.5 million AAV.
Sherwood’s deal, per PuckPedia, carries a $4.5 million salary and a $2.5 million signing bonus each of the first two years. The salaries for the final three years are $4.15 million, $2.4 million, and $4.2 million, respectively. A $2 million signing bonus is owed in years three and four. Sherwood also has a full no-trade clause for next season, and modified no-trade clauses for the final four years.
The Sharks had the option of flipping Sherwood to another team before the NHL trade deadline on Friday at noon (PST). The Sharks and Sherwood’s agent, Judd Moldaver, were reportedly far apart in negotiations in their initial talks after the Jan. 19 trade. But progress was made in recent days, the option of flipping Sherwood disappeared, and the new contract got close to the finish line on Tuesday, Sherwood said.
“I kind of heard that things were trending in the right direction and that their talks were kind of progressing, so I was just hopeful that we could get it done and just move forward,” Sherwood said. “Obviously, it’s kind of been lingering, and so I’m just super relieved and super excited to kind of finally get it done. Just commit to the team and have the team commit, it’s just such a blessing, and truthfully, just so great.”
Sherwood, who spent the first five-plus seasons of his professional career being shuffled between the NHL and AHL, relayed a conversation he had last season with then-Canucks coach Rick Tocchet. Sherwood was going through some “ups-and-downs” in his game, and Tocchet told him not to settle for just being a good player.
“(Tocchet’s) like, ‘You can be a $5 million player,’” Sherwood said. “I had never had a coach that instilled that kind of belief in me. … I was always just trying to scratch and claw just to make it, but to have a coach kind of instill a little bit of belief and just throw it out there — don’t settle, keep pushing yourself.”
The first year of Sherwood’s deal will count 5.53% toward next year’s projected NHL salary cap of $104 million, with that percentage decreasing in subsequent years. The salary cap’s upper limit is projected to be $113.5 million in 2027-28.
“You look at the hockey side of things and just see how things are trending,” Sherwood said. “I think being competitive is something that was really important to us in this decision. We want to continue to push and grow. And this is about continuing to grow towards something special here and building towards something. Ultimately, it’s about winning.
“You only get so many cracks at it in your career, and to be part of a group that is going to be competitive and push for things here, and hopefully, sooner than later, that’s the most exciting part. As a competitor, you want the chance just to get a chance, right? And that’s why you play and continue to grow and elevate.”
Still, the Sharks, per PuckPedia, now have just under $49 million in cap space available for next season and have several roster holes to fill. They only have nine forwards, two defensemen and one goalie signed for next season. Four of their current defensemen, including Mario Ferraro, are pending UFAs, and there remains a chance one or more will be traded before the deadline.
For now, the Sharks’ focus is on making the playoffs. Tuesday’s win, their third straight, kept the Sharks, who have 64 points, within three points of a playoff spot with 24 games to go. San Jose has games in hand on every team ahead of it in the Western Conference standings, including the Edmonton Oilers, who have 68 points in 62 games.
The Sharks are 3-1-0 on their six-game homestand that concludes with games against the St. Louis Blues on Friday and the New York Islanders on Saturday.
“I know we’re building towards something special here, and just to be part of that and the future and helping everyone along the way, it’s pretty cool. And still trying to process it all.”