The Montreal Canadiens may soon clear one of the biggest obstacles on their salary cap sheet, Carey Price’s $10.5 million cap hit. While Price has not played since the 2021–22 season, his contract has remained a constant factor in the Canadiens’ roster management. That could change shortly after Sept. 1, when his $5.5 million signing bonus is paid.
Once that bonus is handled, Price’s actual remaining salary drops to just $2 million, and with most of that covered by insurance, his deal becomes far more enticing to cap-floor teams. For Montreal, the change offers something they haven’t had in years: more cap flexibility before the regular season begins.
The expected move may not immediately produce a blockbuster, but it could set the stage for several smaller, strategic transactions that improve depth and strengthen the team heading into 2025–26.
The Cap Hurdle
General manager Kent Hughes is currently limited by the way Price’s contract sits on the books. The Canadiens have worked around it by getting the over-limit approved during the offseason, but that method comes with restrictions. Montreal can’t truly bank cap space or make certain types of in-season moves without complex calculations and constant monitoring.
Carey Price, Montreal Canadiens (Amy Irvin / The Hockey Writers)
The Sept. 1 milestone changes everything. Once Price’s bonus is paid, any team trading for his contract takes on the full $10.5 million cap hit but only a small fraction of the real salary. For budget-conscious teams looking to hit the cap floor, it’s an attractive asset.
For Montreal, moving it outright means no more long-term injured reserve (LTIR) juggling and more freedom to make traditional cap-space deals. They can plan moves without worrying about “paper transactions”.
More Cap Space Before the Season
If the Canadiens can deal Price’s contract before opening night, they’ll be in a better position to address late-offseason opportunities. Every summer, a handful of NHL players become available unexpectedly, whether through buyouts, unsigned free agents, or teams looking to shed salary after training camp surprises.
Even a smaller move here, adding a bottom-six forward, a seventh defenceman, or an extra goaltender, could make a difference over the course of an 82-game season.
Flexibility for In-Season Moves
The more impactful benefit could come later. During the season, teams with cap space have a significant edge. They can add players at the trade deadline without needing to match salary, step in as a third-party broker in trades, retain salary for picks or prospects, or replace injured players with higher-paid call-ups without worrying about cap compliance.
For a Canadiens team still in a building phase, this flexibility is invaluable. Hughes has already shown a willingness to act opportunistically, whether it’s adding young talent in trades or collecting assets in creative deals. Without Price’s contract, he’ll have even more tools to work with.
Price’s Contract Becomes More Enticing
From another perspective, the post-bonus Price contract is not just easier for Montreal to move; it’s potentially desirable for the right team. Cap-floor clubs often seek these deals to reach the minimum with minimal cash commitment.
For example, the San Jose Sharks could carry Price’s cap hit while spending very little in real dollars, meeting league requirements and perhaps even gaining a veteran face for marketing purposes, even if he will never play.
Don’t Rule Out Action
While no trade is lined up at this moment, the Canadiens have probably been exploring potential frameworks for moving the contract. Timing is key; making the deal after Sept. 1 maximizes its appeal and simplifies the process.
Price’s contract has been a unique factor in Montreal’s cap strategy for years. It served its purpose, giving the team a way to manage the cap while navigating injuries and a partial rebuild. But with the 2025–26 season approaching, the benefits of moving it are clear.
Related: Expectations for Canadiens’ Next Wave of Goaltenders
Freeing that space before the season could lead to minor depth moves. Keeping flexibility during the season could allow Hughes to strike when the right deal appears. And moving the contract itself might even bring back an asset, however modest.
Price’s legacy in Montreal is secure, as a Hart Trophy winner, Vezina winner, and the backbone of the 2021 playoff run. Trading his contract is not about erasing that history; it’s about positioning the team for the future. Once Sept. 1 passes, the Canadiens will have the chance to do just that, and fans should be watching closely to see what follows.
