Key update on a possible trade involving Carey Price and his big contract
Photo credit: Eric Bolte-USA TODAY Sports
While there hasn't been an official announcement, it's regrettable to note that goaltender Carey Price has retired, marking the end of his NHL career.
Nevertheless, he remains under contract until 2026, with an annual salary exceeding $10 million.
Is there a possibility for Kent Hughes and the Montreal Canadiens to offload this contract? It could happen within the next month!
Despite the option to place the contract on the long-term injured reserve (LTIR) list, it still poses constraints for the Canadiens. Kent Hughes must ensure they reach the salary cap before utilizing the freed-up funds.
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«Funds from the LTIR are only possible when the team reaches the upper limit of the salary cap. And once they are added to the equation, the LTIR funds do not accumulate like normal salary cap space does during the regular season.
This means that the Montreal Canadiens will have to use their regular salary cap before entering LTIR territory, which limits their options to some extent.» - Marc Dumont
In essence, a deal concerning Carey Price's contract could prove advantageous for the Canadiens, particularly if Kent Hughes intends to make a substantial move in the free-agent market.
An upcoming major development set to ease a trade for Carey Price
As pointed out by Marc Dumont, starting July 2, Carey will receive a bonus of $5.5 million.
This implies that he will have only one more bonus to earn subsequently (in July 2025).
With the understanding that the bulk of his salary is comprised of signing bonuses, this significantly alters the dynamics for any team considering acquiring him.
This marks a significant development in his circumstances.
Should the Canadiens trade him after July 2, 2024, his contract will amount to only $9.5 million in total for two full years, potentially streamlining the trade process.
«Price will receive $11 million in signing bonuses over the last two seasons of his contract, with the next payment scheduled for July 1 ($5.5 million). It is unlikely that teams will want to discuss any trade before his penultimate signing bonus is paid in a few weeks.
But starting July 2, Price will only have one last signing bonus of $5.5 million the following year while receiving a very reasonable salary of $2 million per season.» - Marc Dumont
This is a situation worth monitoring, as it's plausible that Kent Hughes might execute a trade akin to the "Shea Weber" deal, but this time involving Carey Price's contract.
Such a move could prove beneficial for a team seeking to meet the NHL salary floor without incurring significant costs, or for a team eager to bolster its chances of drafting standout prospect Gavin McKenna.
Price's impact on the salary cap will be $10.5 million, but his actual annual cost (excluding bonuses) will be approximately $2 million.
Kent Hughes and the Canadiens traded Shea Weber to the Vegas Golden Knights on June 16, 2022, in exchange for forward Evgeny Dadonov.
Weber was subsequently moved to the Arizona Coyotes a few months later, along with a 2023 fifth-round pick, in exchange for Dysin Mayo.
This history sheds light on the potential trade value for Carey Price.
Looking back, it's undeniably disheartening to see how things have concluded for Carey Price, but sadly, it was inevitable due to his knee condition.
Previously on Hockey Trade Rumours
| POLL |
13 JUIN | 168 ANSWERS Key update on a possible trade involving Carey Price and his big contract How would you feel if the Canadiens decided to trade Carey Price's contract? |
| Pretty sad | 34 | 20.2 % |
| It's strictly business | 134 | 79.8 % |
| LIST OF POLLS |
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