Pro Hockey Rumors

Navigating the salary cap is one of the most important tasks for a front office.  Teams that can avoid total cap chaos by walking the tightrope of inking players to deals that match their value (or compensate for future value without breaking the bank) remain successful.  Those that don’t often see struggles and front office changes.

PHR is looking at every NHL team and giving a thorough look at their cap situation for the 2024-25 season.  This will focus more on players who are regulars on the roster versus those who may find themselves shuttling between the AHL and NHL.  All cap figures are courtesy of PuckPedia.  We’re currently covering the Atlantic Division, next up is the Canadiens.

Montreal Canadiens

Current Cap Hit: $90,661,575 (over the $88MM Upper Limit)

Entry-Level Contracts

G Jakub Dobes (one year, $925K)
D Kaiden Guhle (one year, $863.3K)
F Emil Heineman (one year, $897.5K)
D Lane Hutson (two years, $950K)
F Juraj Slafkovsky (one year, $950K)
D Jayden Struble (one year, $867.5K)

Potential Bonuses
Guhle: $420K
Hutson: $750K
Slafkovsky: $3.5MM
Struble: $57.5K
Total: $4.7275MM

Slafkovsky has already signed an extension so we’ll just look at the bonuses here.  The $2.5MM in ‘B’ bonuses aren’t going to happen but he also has four ‘A’ bonuses worth $250K apiece.  He’s on his way to getting one for ATOI while another for assists is within reach.  Heineman is in his first full NHL season and was off to a good start before being struck by a car while in Utah.  With limited experience (less than 50 games thus far), it’s hard to see him landing a long-term deal.  Instead, a two-year bridge deal around the $1.5MM to $1.75MM range might be where his next contract lands.

Hutson has been quite impressive in his freshman year, leading all rookies in scoring, making him a Calder Trophy contender in the process.  He’s tracking to hit his three ‘A’ bonuses; he already has reached ones for assists and points while ATOI is all but a lock at this point as well.  Meanwhile, he seems like a strong candidate to be the next Montreal youngster to bypass a short-term second deal in favor of a long-term pact.  In recent years, the team has effectively operated within an internal cap, trying to keep all contracts below that of their captain.  However, with the big jumps coming to the Upper Limit, that might be harder to do with Hutson who could be heading for something in the $8.5MM range unless the Canadiens opt for less than a max-term contract.

Like Slafkovsky, Guhle has already signed his next contract so we’ll only look at the bonuses here.  He’s on pace to hit both of his ‘A’ bonuses with ATOI and plus/minus although if his recent injury keeps him out for the rest of the season, he could get passed for the latter.  Struble, meanwhile, has been the seventh defender for most of the year but is no longer waiver-exempt, leading to a less-than-optimal situation.  With the limited usage, a bridge deal is all but a certainty; whether it’s a one or two-year pact is the only question.  A one-year might check in around the $1MM mark while a two-year agreement could be closer to $1.3MM.  Meanwhile, his bonuses are games played-based so while he won’t max out on those, he could still get a bit of that.  At the moment, Montreal is tracking toward having at least $1.42MM in reached bonuses, a number that would be charged against next year’s cap unless they can get out of LTIR and bank that much in cap room by the end of the season.

Dobes took over as Montreal’s backup goaltender after the holiday break and impressed early on before struggling in recent weeks.  If the Canadiens are prepared to commit to him as the full-time backup, his bridge deal could check in around $1.25MM but a one-year pact worth closer to his $874K qualifying offer could also happen if they envision him being back in the minors next season.

Signed Through 2024-25, Non-Entry-Level

F Joel Armia ($3.4MM, UFA)
F Christian Dvorak ($4.45MM, UFA)
F Jake Evans ($1.7MM, UFA)
F Michael Pezzetta ($812.5K, UFA)
G Cayden Primeau ($890K, RFA)
D David Savard ($3.5MM, UFA)

Dvorak was acquired to be an impactful center, being acquired less than an hour after the team declined to match Carolina’s offer sheet for Jesperi Kotkaniemi.  However, his role has become more and more limited as has his offensive production.  He’ll still generate interest on the open market this summer but it’ll be as a bottom-six faceoff specialist, putting his possible price tag around half of what it is now.  Armia cleared waivers last year but has rebuilt some of his value since then as a double-digit scorer and penalty killer.  Matching this money might be tough to do but he could still get a multi-year deal somewhere close to that price point.

Evans, on the other hand, has seen his market value go up considerably this season.  He’s the most-used forward on the penalty kill in the NHL this season while he’s on the verge of setting new career highs offensively and should surpass the 30-point mark.  Given the high demand for centers, doubling this price tag is very realistic, if not a bit more.  Pezzetta, meanwhile, has been a frequent healthy scratch this year and played very limited minutes when he has played.  It’s hard to see him landing a raise; a drop to the league minimum seems more likely.

Savard has seen his playing time drop considerably this year as he has become more of a third-pairing option at five-on-five.  While he’ll still generate interest as a veteran who can kill penalties and provide some edge, it would be surprising to see him get this much on the open market this summer.  A two-year deal could still be doable, however, but it’s more likely to start with a two.

Primeau started the season as Montreal’s backup but lost the job at the holiday break.  However, he has played quite well in the minors since then and could get another look with the Canadiens over the next couple of months.  Owed a $1.068MM qualifying offer, he’s probably heading for non-tender territory unless the two sides can agree on a new deal before the end of June.

Signed Through 2025-26

F Kirby Dach ($3.363MM, RFA)
F Patrik Laine ($8.7MM, UFA)
D Mike Matheson ($4.875MM, UFA)
G Carey Price ($10.5MM, UFA)
D Arber Xhekaj ($1.3MM, RFA)

Columbus had to part with a second-rounder to offload Laine’s contract in full to Montreal (while receiving depth defender Jordan Harris in return).  He has been quite streaky in limited action since returning from a knee injury and certainly hasn’t rebuilt his value to the point where it could be suggested that he’s in line for an extension anywhere near this cost.  There’s a lot riding on how things go next year to see what type of contract he could realistically command.  Dach missed almost all of last season due to injury and hasn’t been able to show much this year.  Notably, he’ll be owed a $4MM qualifying offer with arbitration rights in the 2026 offseason but right now, his play likely doesn’t warrant that cost.  It wouldn’t be shocking if the two sides ultimately work out a short-term agreement before then, buying some more evaluation time.

Matheson had a breakout year last season, finishing in the top ten in scoring among all NHL defensemen.  Had that continued, he could have been eyeing a long-term deal with a raise of several million per year.  That hasn’t been the case, however, and with Hutson in the fold, Matheson’s offensive opportunities have dried up to a point.  Even so, he could plausibly command in the $7MM range on the open market in 2026.  Xhekaj took a bridge contract after having a limited role in his first couple of NHL seasons.  Not much has changed on that front so another shorter-term agreement appears likely at this point, one that should push past $2MM with arbitration rights.

Price hasn’t played since 2022 when he suited up five times down the stretch of that season and isn’t expected to play again.  Since then, he has been on LTIR.  Notably, his base salary for 2025-26 is just $2MM (with insurance covering a big part of that) so after his $5.5MM signing bonus is paid on July 1st this summer, it’s possible he’s flipped with another asset to a team with plenty of cap room to allow the Canadiens to exit LTIR.

Signed Through 2026-27

F Josh Anderson ($5.5MM, UFA)
D Alexandre Carrier ($3.75MM, UFA)
F Brendan Gallagher ($6.5MM, UFA)
G Sam Montembeault ($3.15MM, UFA)
F Alex Newhook ($2.9MM, RFA)

Gallagher has been a regular in Montreal’s lineup for 13 years now but his production and role have taken a dip the last few seasons.  While he was a 30-goal scorer a couple of times, his output is closer to 30 points now which is far from a good return on their investment.  If the Canadiens decide they need some extra cap room, he could be a buyout candidate.  Anderson is also underperforming relative to his contract.  He has become more of a checker this season compared to the past and has held his own in that role.  Still, someone in that role should be making a couple million less at least although his size and physicality will give him a stronger market in 2027.

Newhook had a good first season with Montreal, setting a new benchmark in points despite missing 27 games due to injury.  But things haven’t gone quite as well this season with his output cut in half.  Notably, unlike Dach, Newhook’s qualifying offer checks in at just $2.1MM (with arbitration rights) so even if his struggles continue for the next couple of years, it won’t be too risky to tender him in 2027.

Carrier was acquired earlier this season for Justin Barron with Montreal deciding that another veteran on the back end was needed.  He has fared better since the swap and has locked down a spot in their top four.  He likely would have ended up with a deal like this had he tested the market and not re-signed with Nashville last summer but barring an uptick in production, his next deal shouldn’t cost too much more than this.

Montembeault has come a long way from being a short-term waiver claim to cover until Price returns, moving from a backup role to a platoon piece to now Montreal’s starter.  He’s in that role while being at the price point of a platoon player.  His numbers have largely been mediocre but playing behind an inexperienced back end probably hasn’t helped.  Over the course of this deal, he needs to show if he can be a true number one.  Otherwise, he’s likely to stay closer to this price tag on his next contract.

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