Canadiens Re-sign Carey Price

by | Jul 2, 2017 | News, NHL, Rumors | 24 comments

The Montreal Canadiens re-sign goaltender Carey Price to an eight-year contract.

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. 

 








24 Comments

  1. What would happen if the owners trigger another lockout? Compliance buyout?

  2. Considering price is as or more important to the Habs as mcdavid is too the oilers not bad contract all in all. Goalies really don’t lose a step especially one as fundamentally sound as price

    • And if Price were in his early- or mid-twenties, the Habs would stand a better chance of getting full value on that contract. But he’ll be 31 in 2018-19 when the contract begins.

      McDavid, meanwhile, will be 21 when his next contract begins. If he gets that monster deal of $13.25 million annually, the Oilers will be locking him up during his prime playing years. They’ll get their money’s worth out of that deal.

      • Unless him too gets injured or loses a nail.. what i mean is every long term contract is risky, many of these have ended up as bad deals to their respective clubs, think Lecavalier for example to name only one… The players have the over hand in my opinion when it comes to contract negotiations, but that is totally the fault of competing GMs who are willing to give up big contracts to satisfy their egos and prolong their own terms and save their asses. Yes Price is another risky one for the Habs, with Weber’s we are doomed for another decade unless we win a couple of cups, but come on now who believes that with this type of roster..

      • True but goalies maintain their abilities far longer than out players, jägr and Howe being excused lol

      • If he stays healthy, Price will be a very good goalie until the end. His technique is soo natural, he’s always at the right place at the right moment, very good anticipation, etc etc. He’s a top player for sure. The big (and I mean BIG) question mark is his health, especially both of his knees. I do prefer this deal to the Weber deal. Years will show much more on a guy like Weber, big guy, who hits and being hit how many times per season.

        My point though is this: do a team really need a goalie paid 14% of the cap to win a Stanley Cup? I dont think so… I understand the Habs, its their franchise player. But this is not a good move; there are so many holes upfront.

  3. I would have rather seen a 6 year contract for Radulov. McNiven will be coming along in a couple years. Carey will be an expensive back up, if there’s a no trade clause in his contract.

  4. Side effect of this deal is the Habs need to begin drafting and developing better in order to fill out their roster with talented players on entry level contracts. They won’t have cap space to overpay free agents.

  5. One problem solvef

    • A HUGE problem created! Teams can’t pay 3rd liners 4-6 million per and a goalie 10.5 makes no sense.
      I would have preffered they traded Price for that elusive #1C and a #2 D.

  6. I guess I have to stop posting Price to Vancouver. I think the Price is right for Montreal. Otherwise I would say the term and dollars are both to much.
    The question becomes can he Carey them to the cup? As of date the Canadians have not been to the finals with Carey as their starting goaltender. Is it his fault, absolutely not but now your tying up payroll and limiting what who you can add to complement the team. Is Carey Price the best goaltender in the NHL, debateable but he’s elite. For me this deal only works in Montreal but also hinders them now and now the road.
    I’ve complained that Boston over paid Rask, while I can hear you already that Rask is no Price. I agree but Rask did get within two wins of the Stanley Cup and Price isn’t almost $3m per season better.
    Very interested in how the Hab fans react to this news.

  7. I know people are pretty divided on Price’s contract, and I generally don’t like paying any goalie this kind of money, not even Price, I think Bergevin had no choice. His options were to trade him, let him walk, or re-sign him.

    Option 1: Goalies are almost impossible to get max value from, even the best in the world, so that isn’t appealing. Plus, he would almost guarantee his own firing, as the fans would just turn on him, and likely so would ownership. Hard to help build a team without a job.

    Option 2: Let your best player walk for nothing next year. This would mean losing an asset for nothing, never ideal, and a team in win now mode would take a massive step back. This will also lead to firing shortly afterward.

    Option 3: Pat dat man his money! By doing it on the heels of bringing in a young french Canadian Winger, he gets a lot of good will from the fans and ownership, and likely keeps his job for longer.

    I get why Bergevin and the Habs made this decision, they need to try and win in the next few years. Price will decline during this contract, and in all honesty, he is likely overpaid on day 1, as the habs aren’t likely to ever get goaltending that is good enough to justify the additional money they are paying for that position. Not because Price won’t be great, but simply because the difference between the best goalies in the league and just very good starters is relatively small, and goaltending is highly variable. Price is easily regarded as the best goalie by just about everyone, yet he has one vezina trophy and no championships. This isn’t a knock on him, but I don’t think we would ever consider a defensemen or forward the best at their position with that pedigree. This just shows that from season to season, goaltending is highly variable and highly competitive, and the edge one has over the rest is pretty razor thin.

  8. Money good. Length bad.

  9. From what I understand, the contract seems to come with a 70 million signing bonus. So the cap hit is huge, I agree, but the actual money owed per year makes him a nice asset if the habs need to trade him in the later years, to a team with an internal salary cap.

    • I don’t believe he is eligible for any type of bonus money at his age. Rookies and + 35 if I’m not mistaken.

  10. I’m seeing a lot of the same sentiment ( and divide )!as I saw with Lundqvist. It’s almost an identical. Personally, I never wanted the current deal Lundqvist has, and was outspoken about it prior and after it happened.

    This is a TERRIBLE deal for Montreal. Just as it is / has been for NY. Given the choice I think trading him, or even letting him walk for nothing was the better option, as I did for NY.

    • He has a full NTC kicking in right at the start until the end.

  11. He has a great goalie, but has knee problems and will be too old for this contract. I like the goalie, I don’t like this deal. Ask the Rangers, Boston and Vancouver during the Luongo years if it’s a good idea to tie that much up in the goalie.

  12. And if the signing bonus thing is true his actual salary is very low, I don’t know how this works. Can they trade him and retain just part of the cap hit? The salary is low, but I don’t think there is any team who needs a contract that takes up 10.5 of the cap.

    • There is always teams that will be able to take a big cap hit on for very low actual money.