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Nov 11, 2025; Montreal, Quebec, CAN; Montreal Canadiens defenseman Mike Matheson (8) shoots the puck away against the Los Angeles Kings during the second period at Bell Centre. Mandatory Credit: David Kirouac-Imagn Images David Kirouac-Imagn Images

Canadiens Take Calculated Risk With Mike Matheson Extension

Originally posted on Breakaway on SI | By Jacob Punturi | Last updated Nov 29, 2025 12:00 PM ET

The NHL is learning how close the Montreal Canadiens are to being a perennial Stanley Cup contender. Currently in second place in the Atlantic Division through the first quarter of the season, the Habs have a young core clearly demonstrating they have taken the next step in their championship contention window. After the organization locked up top defensemen Noah Dobson and Lane Hutson to massive extensions during the offseason and preseason, the Habs made another crucial move that might draw some criticism.

The Canadiens and defenseman Mike Matheson each took a calculated risk when they finalized a new, five-year contract extension. Matheson earned a total of $30 million and will carry a new average annual value of $6 million, making him the team's third-highest-paid defender in Montreal through the 200-2031 season. While some may lambast the Canadiens for committing long-term to a veteran blue-liner, it might be a much better deal than some think.

Matheson Chooses Comfort and Fit Over Money

The deal is an absolute home run for Matheson. Since the Canadiens acquired him before the 2022-2023 season, he's been a perfect fit. The slick puck-mover has maintained his offensive acumen, recording a career-best 62-point campaign in 2023-2024. He's also surpassed 30 points in his other two seasons with the organization. This season, he's been off to another strong start with 15 points in 23 games while playing nearly 25 minutes of ice time per night.

Not only has his offensive game remained impactful, but he's also rounded out his two-way efforts. While he's still not a shutdown defender by any means, his ability to gain and possess the puck in the offensive and defensive zone is critical to the lightning-quick breakout the Canadiens deploy.

It shouldn't be a surprise to learn that Matheson's comfort in Montreal has led to his success on the ice. His agent recently told RG that the veteran defenseman left money on the table in free agency because playing for the Canadiens fits his and his family's needs now and moving forward.

"He could have gotten more money on the open market,” his agent said to Marco D'Amico of RG. “But Mike wanted to stay in Montreal. Playing here checks off so many boxes for him and his family that he wanted to make it work."

Canadiens Make Statement with Extension

When the Habs signed this deal, they did it knowing that the final two years of this contract are a gamble. This contract keeps Matheson under contract through his age-37 season. There's a strong chance that during this extension, his elite skating ability and speed takes a step backward.

The Canadiens might not say it outwardly, but they couldn't care less about what Matheson does between ages 35 and 37, This is about the next three seasons. At 31, Matheson's game is at its best. The organization undoubtedly looks at this gamble as worth the risk. If they can contend for the next few years with Matheson playing a top-four role, they'll happily take that trade off.

Both sides here are taking risks. Matheson could have been a hotly desired commodity on the free-agent market. He leaves millions of dollars on the table in favor of a chance to win in Montreal. The Canadiens are taking a risk by keeping a veteran around with a relatively moderate, but still expensive, contract for five more years. But it's clear that the organization and Matheson are confident that this risk is a calculated one worth taking.

This article first appeared on Breakaway on SI and was syndicated with permission.

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