Montreal Canadiens News

Home

Quizzes

Newsletter

Carey Price, Montreal Canadiens (Amy Irvin / The Hockey Writers)

Why the Canadiens Still Haven’t Traded Carey Price’s Contract

Originally posted on The Hockey Writers
By William Bourget | Last updated Sep 5, 2025 9:35 AM ET

For the Montreal Canadiens, Carey Price’s contract continues to loom large over every salary cap discussion. With one year left on his deal at $10.5 million per season, the franchise icon remains on long-term injured reserve (LTIR) and is no longer expected to play again. While some fans hoped general manager Kent Hughes would have already found a way to move the deal off the books, the reality is that the market isn’t cooperating. In fact, there are logical reasons why the contract remains in Montreal, and why it might not be moved until deep into the upcoming season, perhaps even close to the trade deadline.

A Market That Isn’t Friendly

The primary reason Price’s contract hasn’t been moved is the simple fact that no team is sitting under the salary cap floor. In years past, LTIR contracts like Price’s were valuable assets for clubs looking to reach the minimum payroll requirement without committing actual cash. These teams could take on an injured player, pay only a fraction of the real salary, and suddenly be compliant with the rules.

This summer, though, the situation is completely different. Every single NHL team has comfortably cleared the floor, which means there is no pressing demand for a contract like Price’s. Without desperate buyers, Hughes is negotiating from a position of weakness. Any team willing to take on the contract now knows it holds the leverage, which drives the price up. Instead of a simple swap, the Canadiens would likely have to attach a significant asset just to entice another organization.

The bar has been set in recent seasons by similar transactions. In some cases, teams had to give up second-round picks or mid-level prospects to unload dead cap space. For Hughes, the question becomes: Is it worth spending future assets now when the team is not under immediate pressure? The lack of cap-floor teams essentially means the Canadiens are in a holding pattern until conditions change.

No Immediate Rush

Another important factor is that the Canadiens aren’t under the gun to make a move right away. Thanks to LTIR, Price’s contract doesn’t block them from icing a full roster. They can simply keep him on LTIR throughout the season and operate as if the money isn’t there. From a practical standpoint, this buys Hughes valuable time.

That said, Hughes is a deliberate general manager who doesn’t believe in rushing into unfavourable deals. He has consistently shown patience in building Montreal’s prospect pipeline and has been clear that the organization won’t sacrifice the future for short-term relief. The Price situation fits into that philosophy. Unless a favourable offer appears, the Canadiens will simply continue managing the contract internally.

A Deadline Decision

The more intriguing possibility is that the contract could become a trade chip closer to the trade deadline. By then, the market dynamics could shift. From Montreal’s perspective, this timing could align with their own goals. If the Canadiens are in the playoff hunt, Hughes may want to buy at the deadline, which means clearing Price’s contract could provide much-needed breathing room. On the other hand, if the season goes sideways, the Canadiens might prefer to hold onto their picks and prospects rather than paying to move the contract.

It’s worth remembering that a move of this nature won’t come cheap. Even if the timing lines up, Hughes might need to include a second-round pick or a promising prospect as a sweetener. That kind of cost is not insignificant for a team still in the middle of a rebuild. It’s a calculation that will depend entirely on where the Canadiens stand in March. If they see a clear opportunity to accelerate the process and push toward contention, sacrificing a second-rounder to open cap flexibility might be justifiable. But if not, the wiser choice is to wait.

At the end of the day, the Price contract is not a pressing crisis for the Canadiens. While it limits their flexibility, it doesn’t prevent them from competing or developing their young core. The market simply hasn’t offered Hughes the conditions he needs to make a sensible deal. No team is desperate to reach the floor, and those willing to take on dead money want to be compensated handsomely.