Canadiens Trade Carey Price Contract to Sharks for Cap Relief

Price’s Necessary Evil of a Contract

In past seasons, the Canadiens had placed the contract of the unofficially retired Price, who hasn’t played since late in the 2021-22 season, on long-term injured reserve for cap relief. That likely would have been true this season as well, had they not found a trade partner in the Sharks. However, as Habs beat writer Marco D’Amico has explained in the past, in such an instance any performance bonus overages count against the cap the following season.

On a young team like the Canadiens, that could hurt their cap situation. Consider how they’re set to regularly play multiple players on entry-level deals, including Ivan Demidov, who’s the odds-on favourite to win the Calder Memorial Trophy, to give the Habs their second straight (Lane Hutson). So, what’s changed? Why have the Habs suddenly been able to deal Price?

This is the last year of Price’s necessary evil of a contract, during which he’s only owed a base salary of $2 million, in sharp contrast to his $10.5 million cap hit. So, it’s an attractive tool for a team like the Sharks, who might be looking to stay above the cap floor all season long as they presumably brace for another campaign during which they’ll end up sellers. If you add in the fact that Price was owed his $5.5 million signing bonus on Sept. 1, making his base salary, which is poised to be covered by insurance, the only financial obligation the team to which he’s being traded must respect, it’s understandable how it might have made the last few days a little tense in hockey-mad Montreal.

In Laroque, the Canadiens get a 22-year-old defenseman with an admitted low ceiling, especially at this juncture. Having been drafted in the fourth round (No. 103) in 2021, the 6-foot-2 Laroque (201 pounds), split 2023-24 between the American Hockey League’s San Jose Barracuda and the Wichita Thunder in the ECHL, getting in nine games in each league as a result of injuries. He then missed all of 2024-25 as well. So, expectations are what they are. However, trading Price is anticipated in some circles to be the first of several dominos to fall for the Habs, with their newfound cap flexibility, as they now find themselves officially $4.57 million under the cap..

It is Montreal after all. So, idle speculation remains at an all-time high whatever day of the week (or month) it is.