Montreal Canadiens goaltender Carey Price smiles
(Photo by Vincent Ethier/Icon Sportswire)

HIGHLIGHTS

  • Montreal trades Carey Price and 2026 5th-rounder to San Jose for defenseman Gannon Laroque
  • Price’s $10.5 million cap hit helps the Sharks reach salary floor while giving Habs flexibility
  • Let’s break down why this deal works for both sides and what Montreal might be cooking up next

The Carey Price era in Montreal is over. Not with a Stanley Cup parade or a retirement ceremony, but with a Friday afternoon salary dump to San Jose.

Yes, you read that right. The Canadiens traded Price’s $10.5 million contract and a 2026 fifth-round pick to the Sharks for 22-year-old defenseman Gannon Laroque.

Price hasn’t played since April 2022 due to a banged-up knee that never healed. Let’s be real—he’s not coming back.

The Money Game

Montreal already paid out Price’s $5.5 million signing bonus on September 1st. So, while San Jose only owes him $2 million in actual cash, they take on the full $10.5 million cap hit.

The Sharks now sit at $86.23 million in cap commitments. They’re still $9.24 million under the ceiling, but way above the $70.6 million floor. This gives them flexibility to move other contracts later in the season without worrying about dipping below the floor.

Meanwhile, Montreal frees up about $4.57 million in cap space. But this move is about more than just saving a few bucks.

Why Montreal Really Traded Price

The big benefit? The Canadiens can now start the season without dipping into LTIR (long-term injured reserve for those unaware). That means they can bank cap space all year and maybe load up at the deadline if they’re feeling like it.

There’s another angle most folks aren’t talking about: performance bonuses. Lane Hutson and Ivan Demidov are on entry-level deals with bonuses that could have rolled over to next year if Price’s contract was still hanging around. Montreal wants to go for it in 2026-27, and they’ll need every dollar they can scrounge up.

Marco D’Amico reports the Canadiens are looking to add roster players. Jack Roslovic is still out there in free agency after a 39-point season. Montreal’s got a gaping hole at center behind Nick Suzuki. You can see where this is headed.

The Laroque Lottery Gamble

Gannon Laroque has had some brutal injury luck. Double hip surgery in 2022 cost him his last WHL season, and another injury wiped out all of 2024-25. The kid’s only played 12 AHL games total.
When he’s healthy, Laroque can play. He put up 59 points in 84 WHL games with Victoria. At 6’2”, he’s got the size Montreal loves on the blue line. This is a lottery ticket, plain and simple. But sometimes those tickets cash in.

Price’s Final Chapter

Price leaves Montreal with 361 wins, the most in team history. He carried the team to the 2021 Stanley Cup Final and won a Hart Trophy, Vezina Trophy, and about every other piece of hardware a goalie can win.

The 38-year-old told LNH.com in March that his body was done. “I’d like to think that I finally stopped because my body just couldn’t keep up anymore,” he said. Fair enough.

GM Kent Hughes played this smart. He paid Price’s bonus first, checked the free agent market, and showed Price some respect by not shopping him around the league.
Just a few days ago, Hughes said they didn’t need to trade Price. Next thing you know, he pulls the trigger anyway. Smart, respectful, and effective.
Both teams should feel pretty good about this one. The Sharks get help hitting the salary floor and pick up a draft pick. The Canadiens get room to actually add some players. And Price? He’ll cash his final NHL paycheck from California, not Quebec.

Business is business in the NHL, even when legends are involved.