The Montreal Canadiens are a team that is spending right up to the salary cap, but also expected to finish down near the bottom of the standings. That’s not the best mix.
It is not all horrible though, as the reason they are up so close to the salary cap right now is partly due to the fact they added money just to receive another high draft pick. The Canadiens acquired Sean Monahan just before the season began, and he came with a first round pick for nothing in return.
This has put the Canadiens up near the top of the money spenders in the NHL. At least for the first half of the season. Pending free agents Jonathan Drouin, Evgenii Dadonov and Sean Monahan are likely to be auctioned off to the highest bidder before the trade deadline.
Canadiens Could Use Salary Cap Increase To “Help” Another Team
Add in Paul Byron’s expiring contract and that is just over $20 million in cap space that could be opened up in the coming months. At the very least, none of them are expected to be back in 2023-24 and that could give the Canadiens some salary cap flexibility in the offseason.
It was revealed last week that the salary cap could be headed for an unexpected boost heading into next season as well. The players owe the owners money for the missed games during Covid and revenues are so high early this season that the debt could be paid off sooner than expected.
If so, it means the cap could jump a few million from its current $82.5 million threshold. That would give the Habs even more space, but they may not look to spend it in free agency.
Instead, it could give the Canadiens a chance to pull off another Sean Monahan type trade. They were able to add a future first round pick just for taking on Monahan’s contract, which is $6.375 million for just one season.
With so much cap space opening up, the Canadiens could be looking to swing a similar deal next offseason. The Vancouver Canucks would probably like to move the final year of Tyler Myers $6 million cap hit.
The Edmonton Oilers would likely be tempted to give up a good draft pick to move out the final year of Tyson Barrie’s $4.25 million contract. The Winnipeg Jets would love to open up over $8 million in cap space by trading away the final year of Blake Wheeler’s contract.
There are plenty of options, and probably more problematic contracts that will become apparent before the end of the season. Whichever team is looking to offload some cap, the Canadiens will be one of the few teams with the cap space available to take on some money – as long as they are rewarded with a first round pick as well.
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