In a move that provides both immediate and long-term benefits, the Montreal Canadiens have traded Carey Price's contract to the San Jose Sharks. The deal, finalized on September 5, 2025, sees Montreal sending Price and a 2026 fifth-round pick to San Jose in exchange for minor-league defenseman Gannon Laroque.
Price, 38, has not played in the NHL since April 29, 2022, due to injuries, including a serious meniscus injury that required surgery. His reluctance to undergo more invasive surgery on his right knee has effectively sidelined him. While his on-ice contributions have been absent, his $10.5 million cap hit has remained a significant factor for the Canadiens.
The trade is a strategic one for both clubs. For the Sharks, acquiring Price's contract serves to elevate them closer to the salary cap floor. With no bonuses due, San Jose only needs to pay Price $2 million in base salary while benefiting from the full $10.5 million cap hit. This brings their cap utilization to $86.23 million, still below the ceiling but a significant step up. Some observers speculate that if the Sharks sell off veterans at the trade deadline, Price's cap hit could be crucial to staying above the floor. Furthermore, the move gives the Sharks one less contract against the limit, allowing them to potentially take on unwanted contracts from other teams in the future if needed.
Montreal, on the other hand, gains crucial cap flexibility. The Canadiens were reportedly $5.9 million over the cap for the 2025-26 season. Moving Price's contract allows them to avoid using long-term injured reserve (LTIR) and provides roughly $4.57 million in cap space. This newfound flexibility allows them to add talent to their roster, addressing needs such as depth at the center position. General Manager Kent Hughes can now explore options to bolster the team, potentially targeting free agents or players via trade.
Carey Price leaves an indelible mark on the Montreal Canadiens. Drafted fifth overall in 2005, he holds the franchise record for wins (361), games played (712), and shutouts (49). Price also backstopped the Canadiens to the Stanley Cup Final in 2021. Individually, he earned numerous accolades, including the Vezina Trophy, Hart Memorial Trophy, Ted Lindsay Award, and William M. Jennings Trophy in 2014-15.
Despite the trade, Price's connection to Montreal remains strong. In a message to fans, he stated, "Always a Hab. Just a teal one for now".
