Now that the Montreal Canadiens have traded longtime goaltender Carey Price to the San Jose Sharks, it’s time to take a look at the impact of the deal, particularly from a financial standpoint.
Before we get going, it’s crucial to note that Price became one of the most popular players in recent Canadiens history because he gave fans a reason to hope for a better tomorrow. After dragging the team to the Stanley Cup final in 2021, Price’s knees simply would not allow him to move forward, connoting that he literally put his body on the line for a chance at success.
Anyone who paid attention can confirm it was the driving force behind Price’s well-deserved Masterton Trophy win in 2021-22.
The Salary Cap Angle
The first thing that stands out from the trade is that Kent Hughes did not have to pay an arm and a leg to unload the deal via the Sharks, as some suggested would be necessary.
A fifth-round pick holds little to no value in the grand scheme of things.
As for the return, the Sharks had very few contract spots available, which is why they shipped Gannon Laroque to Montreal in the deal.
The deal also means that the Canadiens no longer have to tip-toe around the long-term injured reserve dilemma. If they had kept Price in the mix, the cap space would not have accrued, which would have limited the options to improve the lineup, an important goal for a team looking to maintain their upward trajectory after a surprise appearance in the playoffs.
Now that Price has been traded, the Habs went from being a few million over the max salary cap, to about five million under, which means they should have the funds necessary to pull off a trade that would improve their team.
If they simply sit on the cap space, it would allow them to absorb over $20 million in cap hits at the 2026 NHL Trade Deadline.
It also means they won’t have to pinch every penny going forward, with important players heading to the AHL to save a few dollars when needed. This ensures the players who are not waiver eligible will have fewer disturbances in their development.
All things considered, even if the notion of trading a player of Price’s popularity may have seemed daunting, the initial reaction to the trade should be nothing but positive.
Once again, Hughes, Jeff Gorton, John Sedgwick, and the rest of the Canadiens management group have pulled off a deal that should not only help them in the short term, but also be quite beneficial when it comes to taking the final step of their rebuild, which involves the Habs becoming a legitimate Stanley Cup contender.
We’re not quite at that point yet, and it may take the Canadiens a few years to reach there, with the Price trade serving as a crucial stepping stone to accomplish their lofty goals.