The Montreal Canadiens could be unloading a significant contract in the coming weeks. In particular, it’s Carey Price’s contract that could be in play.
A report published by RG Media on August 12 looks at rumors regarding the Canadiens moving the final year of Carey Price’s contract. Price has not played since 2022 due to a career-ending knee injury.
Since then, Price’s contract has been moved to LTIR as a means of freeing up cap space for the club. However, that could change this season. The Canadians are currently $5.9 million over the cap ceiling with Price’s contract on the books.
If the Canadiens were to move Price’s $10.5 million cap hit to LTIR, it would free up about $4 million for the Habs. While the club could go that route, the Habs could also weaponize that contract and use it to acquire more assets.
In the RG Media piece, Marco D’Amico cited an anonymous NHL source who explained the Canadiens’ thought process. D’Amico wrote:
“Once Price’s contract is moved, and they actually have real cap space, there is potential for a subsequent move, because the Canadiens don’t want to use off-season LTIR right now and they don’t want to sacrifice a roster player.”
The play, it seems, is potentially moving Price’s contract to a team looking to reach the salary cap floor. That could recoup some assets for the club. The leftover cap space could be utilized to bring in other pieces.
It’s also worth pointing out that the Canadiens don’t want to move anyone from the current roster. As such, trading Price’s contract could be the easiest way out.
Canadiens’ Deadline to Move Price’s Contract September 1
The Canadiens have a September 1 deadline to move Price’s contract. The reason for that, as D’Amico explains, is that Price has a $5.5 million signing bonus due on that date. Once the Habs pay out the bonus, whoever gets the contract will owe Price $2 million in real money, despite the $10.5 million cap hit.
Moreover, insurance covers 60% of the remaining $2 million. That situation makes the move a solid one for a team looking to make the cap floor. If a deal does materialize, Canadiens fans can expect it to happen in the days leading up to the opening of training camp.
As for what the Canadiens could get in return for Price’s contract is debatable. The likeliest outcome could be draft picks or prospects, which the Canadiens could then flip to another club for other assets more to their liking.
Thus far, there is no clarity in which teams could be in the running to acquire Carey Price’s contract.
Habs Could Pull Late-Summer Trigger
D’Amico cited the anonymous NHL source once again to provide a timeline for when a deal could take place. The source stated:
“Hughes and Gorton often get a second wind in the month of August and September to make trades, so it wouldn’t surprise me at all. Right now, nothing is really happening, but it wouldn’t be shocking to see them pull off a trade once Price’s contract is off the books.”
Those comments highlight how Canadiens GM Kent Hughes and Team Executive Vice-President Jeff Gorton could have something up their sleeves. Perhaps the summer lull is about to come to an end. The Canadiens could close out the summer by pulling the trigger on a massive deal.
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