6:30 p.m.: More details about Matheson’s new extension have been revealed. The deal carries a $5MM signing bonus through the first two seasons, a $3.8MM bonus in year-three, and a $3.5MM bonus in the final two years per David Pagnotta of The Fourth Period. Pagnotta adds that the deal also carries a full no-movement clause in the first three years, a 14-team no-trade list in the fourth year, and a five-team no-trade list in the final year.
10:00 a.m.: The Canadiens have announced Matheson’s deal. It’s worth $30MM for a cap hit of $6MM, keeping him signed through the 2030-31 campaign.
9:48 a.m.: Another day, another high-value pending unrestricted free agent is taken off the board. According to David Pagnotta of The Fourth Period, the Montreal Canadiens are nearing a five-year extension with defenseman Mike Matheson. Marco D’Amico of RG Media confirmed that negotiations were headed in that direction, with an announcement expected as soon as today.
The extension finalizes the last important item on the Canadiens’ internal to-do list for the rest of the season. In the last five months alone, general manager Kent Hughes has inked Noah Dobson, Lane Hutson, and now Matheson to long-term extensions. This comes a year after the team did the same for Kaiden Guhle.
Montreal had plenty of space to make it happen as well. Before Matheson’s upcoming extension, the Canadiens had approximately $26MM in cap space for the 2026-27 campaign. Even though it’s expected that the 11-year veteran will earn a healthy raise on his current $4.875MM salary, Montreal will still have ample room to add.
There’s little argument to claim he wasn’t worth retaining either. Toward the beginning of his career with the Florida Panthers and Pittsburgh Penguins, Matheson had scored 49 goals and 138 points in 417 games with a -9 rating, averaging 20:15 of ice time in a top-four role. That production pales in comparison to his time in Quebec.
The 31-year-old blue liner has already surpassed his previous production in nearly half as many seasons. Though he earned more ice time in the offensive zone before the emergence of Hutson and the acquisition of Dobson, Matheson has scored 29 goals and 141 points in 232 games donning the bleu, blanc et rouge.
Still, there is some cause for concern. At even strength, Matheson hasn’t garnered above a 90% on-ice save percentage at even strength since his first year with the Canadiens, though some of that can be attributed to beginning 56.7% of his shifts in the defensive zone. Similarly, according to MoneyPuck, Matheson hasn’t produced a percentage above 50% on-ice goals share at any point during his time with Montreal.
As they’ve done this season by placing him alongside Dobson, Matheson will likely transition into a complementary piece rather than being expected to carry his defensive pairing. Comparatively, Dobson has only had one season in which he’s averaged less than 50% on-ice goals share.
Regardless, the Canadiens now have their top-four defensemen signed through the 2030-31 season, and that’s without considering the expected emergence of top prospect David Reinbacher. Now, with their last important internal negotiation out of the way, Hughes and the rest of Montreal’s front office can focus entirely on bringing a second-line center into the mix.
Photo courtesy of Nick Turchiaro-Imagn Images.
A top D-man playing 25 minutes should be making at least 8M, especially as durable as Matheson. In the final 2 years he’ll be making less than league average.
I don’t see his age as a problem.
This is a steal for Montreal.
On most other teams, he is a 2nd-pair D, and that’s what he is being paid to be. I remember when he was awful awful awful, I’m kind of surprised he is getting this much
What other teams have a Calder trophy winner on their second line? Montreal has one of the most talented defense in hockey.
His salary as a percent of the cap will actually go down even after his raise in just two years. He’s turned himself from a glass cannon into a very reliable defensive pairing who still may put up 50 points.
I’m not a fan of paying someone into their mid 30s but we are talking about someone who would be the 80-90th paid D by then. Which he’s at now providing top 40 value
The AAV is fine, But five years for a guy that is soon to be 32, Yikes! 6 annually for three seasons is smarter. Clearly, The team accountants aren’t involved in these team signings/extensions.
He would never sign for 6 mil/3 years. It’s not 2019. Have you seen the FA market?
Why do people keep lying about Reinbacher? He is hurt again. He’s only played. I think it’s 43 games including playoffs in the three years since he’s been drafted he has osgood schlatter disease. He may never play in the NHL but too many people keep saying he’s a good prospect because they have their own reasons to keep pumping him up.
One of them being Marco D’Amico, the man is a constant liar. He’ll do anything to help Montreal trade him even if doctors have already said he could be disabled by the time he is 30 don’t listen to Marco D’amico He is paid by the Canadians to pump up his value for trade. Nothing he ever says is the truth.