Montreal Signs Carey Price To 8-Year Extension

The Montreal Canadiens have announced that they have signed goaltender Carey Price to an eight-year, $84MM extension with a $10.5MM AAV, according to Elliotte Friedman. The deal won’t kick in until the 2018-19 season and will make the 29-year-old goalie the highest paid player in Montreal Canadiens history, according to Sportsnet’s Eric Engles. TSN’s Pierre LeBrun tweets that $70MM of the $84MM will come though a signing bonus, which are in place in case there is a lockout, according to Buffalo News’ Mike Harrington. It also means that’s more money for Price down the road if they choose to buy him out, according to NHL Network’s E.J. Hradek.

For Price, his $10.5MM AAV will briefly be tied for the highest in the NHL, according to Sportsnet’s Chris Johnston. He is currently tied with Blackhawks’ Patrick Kane and Jonathan Toews. However, that will only last until Edmonton Oilers’ Connor McDavid signs his expected $13.25MM extension shortly.

Price will be locked up now until the 2025-2026 season with this deal.  Considered by many to be the best goaltender in hockey, the goaltender has a 270-185-55 record. He boasts an goals against career average of 2.40 and has been even better in the past few years, finishing this year with a  2.23 in 62 games with a .923 save percentage. His best season was the 2014-15 year when he won both the Hart Memorial Trophy and the Vezina Trophy after a season in which he finished with a 1.96 GAA and a .933 save percentage in 66 games.

While Price wasn’t set to be a free agent until next year, locking up their franchise goaltender long-term is one less thing to worry about. While the new contract will not come into play for another year, the team will new cap concerns starting a year from now. Montreal currently has $53MM tied up in just 14 players next year.