Major update on a potential trade involving Carey Price and his large contract

Elias Edmonson
June 12, 2024  (7:02 PM)

Photo of Carey Price
Photo credit: Ctv Montreal

It hasn't been officially announced yet, but unfortunately, goaltender Carey Price is retired, and he has played his last game in the NHL.

However, he is still under contract until 2026, earning just over $10 million per year.
Could Kent Hughes and the Montreal Canadiens trade this contract? They could do it in less than a month!
Even though the contract can obviously be placed on the long-term injured reserve (LTIR) list, it still limits the Canadiens because Kent Hughes has to ensure they reach the salary cap before he can use the freed-up money.
«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 short, a transaction involving Carey Price's contract could benefit the Canadiens, especially if Kent Hughes wants to make a significant move in the free-agent market.

A Major Development Coming and It Will Facilitate a Trade for Carey Price

As Marc Dumont points out, starting July 2, Carey will receive a bonus of $5.5 million.
This means he will only have one more bonus to earn afterward (in July 2025).
Knowing that the vast majority of his salary comes from signing bonuses, this changes everything for a team that might want to acquire him.
This is a major development in his situation.
If the Canadiens trade him after July 2, 2024, his contract will only cost $9.5 million in total for two full years, which could certainly facilitate a trade.
«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 something to keep in mind and a situation to watch because it's not impossible to see Kent Hughes make another trade like the "Shea Weber" deal, but this time with Carey Price's contract.
It could have value for a team looking to reach the NHL salary floor and not wanting to pay, or for a team that really wants to give itself the best chance to draft the phenom Gavin McKenna.
Price will have a $10.5 million impact on the salary cap but will cost about $2 million per year in actual money (excluding bonuses).
Shea Weber was traded by Kent Hughes and the Canadiens on June 16, 2022, to the Vegas Golden Knights in exchange for forward Evgeny Dadonov.
He was then traded a few months later to the Arizona Coyotes, along with a 2023 fifth-round pick, in exchange for Dysin Mayo.
This gives an idea of the potential trade value for Carey Price.
In hindsight, it is truly sad how things have ended for Carey Price, but unfortunately, it was inevitable because of his knee.
Credit: Marqueur.com
Transaction impliquant Carey Price chez le Canadien: du nouveau
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Major update on a potential trade involving Carey Price and his large contract

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