Carey Price traded: Major development for Kent Hughes

David St-Jean
June 12, 2024  (6:20 PM)

Carey Price
Photo credit: Sportsnet

Carey Price dedicated his career to the Montreal Canadiens, but hockey is a business, and he might be traded.

This isn't confirmed yet, but Carey is retired as a player and won't return. I think everyone knows this and there are no doubts anymore.
His contract, at $10.5 million per year, is very heavy for the organization, despite being on the long-term injured reserve (LTIR).
For this reason, Kent Hughes might trade him starting July 2nd, the day after his $5.5 million bonus is due.
«Price will receive $11 million in signing bonuses over the last two seasons of his contract, with the next payment scheduled for July 1st ($5.5 million). It is unlikely teams will want to discuss any trade before his penultimate signing bonus is paid in a few weeks.

But from July 2nd onwards, Price will only have one more signing bonus of $5.5 million the following year, while earning a very reasonable $2 million per season salary.» - Marc Dumont

This means that on July 2nd, the bonus will be paid by the Canadiens, and a team struggling to reach the salary floor might take his salary instead of overpaying a player.
It would be very surprising for a team to accept his contract now, with a bonus due in less than a month.
Even though $5.5 million isn't a huge sum for NHL owners, it's still a lot of money.
Regarding the LTIR, there is a reason why trading him would be advantageous.
«LTIR funds are only possible when the team hits the upper salary cap limit. Once they are added to the equation, LTIR funds do not accumulate like normal salary cap space during the regular season.

This means that the Montreal Canadiens will have to use their regular salary cap before entering LTIR territory, which limits their options to some extent.» - Marc Dumont

To help Kent Hughes make a big move this summer, Price might be traded, unfortunately.
We all love Carey and want him to remain a Canadien forever, but it's a business and nothing prevents him from signing a one-day contract upon his official retirement, as many teams have done before, notably Marian Hossa with the Blackhawks.
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Carey Price traded: Major development for Kent Hughes

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