Canadiens Re-sign Carey Price
The Montreal Canadiens have re-signed goaltender Carey Price to an eight-year, $84-million contract extension. The new deal goes into effect on July 1, 2018.
SPECTOR’S NOTE: The annual average value is $10.5 million, making Price the NHL’s highest-paid goaltender and tying him with Chicago’s Patrick Kane and Jonathan Toews for the league’s highest annual salary-cap hit.
It’s no surprise that the Canadiens would pay this much to retain Price. After all, he’s their best player and considered among the league’s elite netminders.
Price won the Vezina Trophy, Hart Trophy, Jennings Trophy and Ted Lindsay Award in 2015 and was a finalist this year for the Vezina. Without him, the Canadiens would struggle to reach the playoffs. He’s a superstar and is getting paid like one.
The Canadiens and their fans will be pleased to have Price locked up long term. If he can maintain his current level of performance and avoid serious injury over the course of this contract, it could be a worthwhile deal, especially if he can backstop them to a Stanley Cup title.
However, there are a few concerns with this hefty contract. He’ll be 31 when the first season of this deal kicks in. By the midpoint of this deal, his performance could be in decline. In recent years, he’s been plagued by knee injuries, missing most of the 2015-16 campaign.
Price’s new annual cap hit will take up a big chunk each year of the Canadiens’ cap payroll, making it difficult to retain and pursue talented depth. If his play deteriorates in the latter years of this contract, it will become be a hefty burden for the Habs.