Trading Carey Price: a priority for Kent Hughes?
Carey Price will no longer play professional hockey and he will forever be immortalized with the Canadiens, even if his jersey is never retired.
However, his contract poses a problem and Kent Hughes must try to trade him.
Carey has a no-move clause, but he has already mentioned several times that he would waive it if it helps the team. Anyway, he doesn't have to physically be with his new team, if applicable.
Even though his $10.5 million contract falls under LTIR, there are significant advantages to trading his contract, as explained by Marc Dumont.
"If the Canadiens had managed to move his contract before today, they would have started the season with a $17 million cap, which would have generated significant gains throughout the year.
The cap space and expenditures are calculated daily during the season (186 days). If a team is below the salary cap, their available cap space increases every day." - Marc Dumont
In essence, LTIR only kicks in when the cap is reached, so even though his salary theoretically doesn't count, there are no savings during the season and it hurts along the way.
The Canadiens are entering years where results will be desired, even expected. It's a real burden that could prevent the team from improving at the trade deadline, for example.
On July 1st, Price will receive his penultimate bonus of $5.5 million. The team that would want to acquire him would therefore have to pay him $9.5 million for the next 2 years, instead of $14 million.
I don't know if Hughes will be able to do it and give compensation to the acquiring team, but he absolutely must try.
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