Montreal Canadiens Boost Cap Space by Trading Carey Price to Sharks

The Montreal Canadiens traded goaltender Carey Price and a 2026 fifth-round draft pick to the San Jose Sharks for minor-league defenseman Gannon Laroque, creating salary cap flexibility. Price, 38, has been sidelined since the 2021-22 season due to a knee injury. He was in the final year of an $10.5 million annual contract with the Canadiens. The Sharks will cover part of his remaining salary.

The trade enables the Canadiens to avoid long-term injured reserve, a mechanism allowing teams to exceed the salary cap in case of long-term injuries. This move may prevent the Canadiens from facing bonus overages in 2026-27. The Sharks, with Price's $10.5 million cap hit, will stay above the $70.6 million salary floor.

San Jose has an $86.2 million cap number, including Logan Couture's $8 million. The Sharks have made several roster moves, signing free agents and acquiring players on expiring contracts. Despite having cap space, they could keep Couture off long-term injured reserve. William Eklund's contract extension will take effect in 2026-27.