2026 NHL Trade Deadline Primer: Montreal Canadiens

Habs’ Salary Cap Space

Montreal cleared $10.5 million in annual value from its books in September 2025 by trading Carey Price’s contract to the San Jose Sharks. According to PuckPedia, the Canadiens are projected to have $1.49 million cap space at the trade deadline. The team currently has no players on the long-term injured reserve and is not retaining salary on any contracts, leaving three available spots.

While several teams have significantly more cap flexibility—Winnipeg, for example, is projected to have $17.4 million in available cap space—Montreal remains in a manageable position from a financial standpoint.

Michae Hage is expected to join the team towards the end of the season, similar to Ivan Demidov’s arrival last season. There is sufficient cap space to accommodate his entry-level contract should that occur. Recently, Marc-Olivier Cook reported that an early arrival of Alexander Zharosvky may not be beyond the bounds of possibility.

Montreal clearly has the flexibility to make a move if it so chooses. The more pressing question, however, is whether it should?

Habs’ Trade Chips

The Canadiens do have pieces they may be willing to move at some point, but is this the right moment? With one possible exception, the answer may be no.

Patrick Laine represents that exception. His current situation has been examined here by “Old Prof”, and opinions about what will happen remain divided. Here, Charles-Alexis Brisebois has suggested that Laine is not generating significant market demand. In contrast, Nick Kypreos here is reporting that there is interest in the winger.

Up until the Olympic trade freeze, the prevailing expectation was that Montreal would move him. However, more recent reporting from Charles-Alexis Brisebois here, indicates there is now a possibility that Laine could finish the season in Montreal.

If the Habs are Buying What Are They Buying?

Since Martin St. Louis moved Juraj Slafkovsky successfully to the second line, a vacancy has opened on the first line. However, it is unclear whether Montreal should look externally to address that need. Alex Newhook and Kirby Dach deserve the opportunity to rediscover their form following their respective injury recoveries. In the longer term, Michael Hage remains a potential solution, waiting in the wings.

At the beginning of the season, the prevailing sentiment was that Montreal was in desperate need of a second-line centre. However, Oliver Kapanen has stepped up in his rookie campaign and appears to have earned a longer opportunity. What was once considered a pressing “need” may now be better characterized as a “want.”

Some pundits argue that the Canadiens require a defenseman to assume the role currently shared by Jayden Struble and Arber Xhekaj. However, it is worth questioning whether bringing in an external addition to address a short-term need is prudent—particularly if doing so limits the opportunity to evaluate properly Adam Engstrom and David Reinbacher.

The Bottom Line for the Habs

The Canadiens are likely ahead of where many anticipated they would be at this stage of the season. As a result, there is little justification for acquiring additional talent—particularly if it falls outside the organization’s age profile or salary structure—simply to improve marginally this season’s outcome.

That said, a very different scenario is likely to unfold this summer.