JUST IN: Habs pushed for the $84 million trade of the franchise legend.

Only three years have passed since the Montreal Canadiens made it to the Stanley Cup Final, but since then, their fortunes have not improved.

On June 11, Marc Dumont of Montreal Hockey Now proposed that the Canadiens look into dealing Carey Price, a franchise icon, in order to clear cap space and provide financial relief for the team.

Dumont claims that Price’s contract, which is essentially worthless because the goalkeeper is retired, has an adverse effect on the team’s salary cap. He stated that he thinks it reduces the Habs’ options for managing their roster going into the winter.

“The Canadiens must place Price’s contract on the long-term injured reserve (LTIR) in order to achieve maximum financial maneuverability, even though the Habs will have almost $17 million in available funds,” Dumont wrote.

CapFriendly predicts that the Habs will have even more cash going into the offseason, at $19.9 million. That comprises 19 of the 23 players that are currently under contract and part of the team’s active roster.

Price might be placed on LTIR by the Canadiens, but that wouldn’t do much good for the team.

While a player placed on long-term injured reserve (LTIR) does not erase the salary cap hit from the team’s overall budget, it does enable the organization to spend more money than the $88 million salary cap for 2024–25.

Dumont stated, “From a salary cap standpoint, having Price on LTIR isn’t ideal.” “It is practically impossible for the Canadiens to improve their cap space throughout the season because Price’s funds are tied into the LTIR.”

Dumont believes the Canadiens have just two options going forward in light of his assessment. The team has two options: accept their circumstances or attempt to swap Price’s contract.

“Trading his contract to a team looking to cut costs, work through a challenging LTI/LTIR situation, or get to the salary cap floor is the obvious solution,” Dumont said.

Price’s deal includes sizable signing incentives, so even in that scenario, the Habs may struggle to locate a trade partner by July 1. In signing bonuses, the goalie owes $11 million for the final two seasons of his deal. The next payment is due to him on July 1.

According to Dumont, teams are unlikely to be interested in talking about a move before his penultimate signing bonus is distributed (on July 1).

This implies that other teams will find it more simpler and more agreeable to deal for Price on July 2. In this approach, the acquiring team would avoid paying $5.5 million in bonuses.

But the Canadiens would pay a price for that. The team would still have Price’s money on file when they went into free agency on July 1. That would stop them from trying to sign high-profile free agents.

Although Price is a living example of a Canadian legend, he is also incredibly unlucky. Price, who has been a vital member of the Habs since his debut in the 2007–08 campaign, has encountered many difficulties lately.

Price is largely regarded as having “unofficially” retired these days due to knee issues. In September 2023, he made the confirmation, calling his comeback to the game a “miracle” if it occurs.

“As of right now, I’m feeling great. On September 12, 2023, Price stated, “But when I do certain things consistently, it’s a very, very solid remainder that my knee isn’t in a position to take the brunt of a full season’s workload.” “I continue to experience extreme swelling in it.

“So, I can perform physically demanding tasks for brief periods of time. To be honest though, it simply isn’t going to happen at this time. I’m simply going to keep trying to get my knee back to the point where it’s good enough for everyday living for the time being.

Price’s hip and knee issues grew worse during the 2021 postseason, making a full-time comeback improbable.

The Canadiens declared he will be prepared for opening night in 2021–2022. However, at the beginning of the 2021–22 season, Price joined the NHL/NHLPA Player Assistance Program. Following that, Price experienced a setback in his post-program conditioning, which required him to “essentially start from scratch in his rehab for his knee,” according to Chantal Machabee, vice president of hockey communications for the Montreal Canadiens.

In a 3-0 loss against the New York Islanders in April 2022, Price made his Habs debut and stopped 17 of the 19 shots he faced.