The Montreal Canadiens used to be the team where bad contracts went to die. We all remember the days of checking CapFriendly (RIP) just to see how many millions were buried in the press box or stuck on the Long-Term Injured Reserve (LTIR). It was a mess. Honestly, it felt like every time the team tried to take a step forward, a heavy contract for a declining veteran would yank them back.
But things have changed. Fast.
As we look at the Montreal Canadiens salary cap situation for the 2025-26 and 2026-27 seasons, the narrative isn't about survival anymore. It’s about weaponization. General Manager Kent Hughes and Executive Vice President Jeff Gorton have spent the last few years performing a sort of financial alchemy. They’ve turned "untradeable" deals into assets and bridge contracts into long-term bargains.
The Magic of the $7.8 Million Tier
If you want to understand how the Habs are winning the cap game, you have to look at the numbers $7.875 million and $7.85 million.
Those are the cap hits for Nick Suzuki and Cole Caufield. In a world where the NHL salary cap is projected to explode to $104 million by the 2026-27 season and potentially $113.5 million the year after, these deals look like absolute steals.
Think about it. When Suzuki signed his 8-year extension, people debated if he was a "true" number-one center. Now? He’s the captain, he’s a point-per-game threat, and he's making less than some second-line wingers on other teams. Juraj Slafkovsky followed suit, locking in at $7.6 million a year through 2033.
By the time we hit 2027, your entire top line is making roughly $23.3 million combined. In a $113 million cap world, that’s about 20% of your total space for your most productive players. That is how you build a contender.
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Moving Past the Dead Weight
Let’s talk about the elephants in the room: Carey Price and Patrik Laine.
For the 2025-26 season, Carey Price still carries a $10.5 million cap hit despite not having played since 2022. It’s a massive number. However, the light is at the end of the tunnel. 2025-26 is the final year of that contract. Basically, the moment the clock strikes midnight on the 2026 free agency period, $10.5 million in "dead air" vanishes.
Then there's Patrik Laine. The Habs took a gamble on him, and his $8.7 million hit is significant. But here’s the kicker: his deal also expires after the 2025-26 season.
Between Price and Laine alone, Kent Hughes is looking at nearly $20 million in fresh, usable cap space opening up simultaneously. That doesn't even include the $12 million currently tied up in Brendan Gallagher and Josh Anderson, whose contracts are slowly—very slowly—creeping toward their 2027 expiration dates.
The "Hutson and Demidov" Problem (A Good One to Have)
Of course, it’s not all just "free money." You’ve got to pay the kids.
Lane Hutson and Ivan Demidov are the next big financial hurdles. Hutson is already showing that his offensive ceiling is somewhere in the stratosphere. If he puts up 50-60 points as a defenseman, his agent isn't going to ask for a "bridge" deal. They’re going to want the moon.
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Expect Hutson's next contract to potentially eclipse the $8 million mark if he maintains his current trajectory. The beauty of the Montreal Canadiens salary cap management is that the team actually has the room to pay him that without blinking.
Why the LTIR Trap is Almost Over
The Habs have relied heavily on LTIR to stay compliant. While it helps in the short term, it prevents the team from accruing cap space during the season.
- No Accrual: If you are in LTIR, you don't save money day-to-day.
- Bonus Overages: Performance bonuses earned by guys like Hutson or Demidov often roll over as a penalty into the next year.
- The 2026 Shift: Once Price is off the books, Montreal could finally operate as a "cap space" team rather than an "LTIR" team.
This shift is huge. It means Hughes can be the "third-party broker" at the trade deadline, taking on a contract for a few weeks in exchange for first-round picks.
What Most People Get Wrong About the Rebuild
People see $27 million or $30 million in projected cap space and think "Free Agent Frenzy!"
Slow down.
Kent Hughes hasn't shown a desire to overpay 30-year-old free agents. Instead, he’s used that cap flexibility to facilitate trades. Look at how he acquired Kirby Dach and Alex Newhook. He used the leverage of having space and assets to snag players who didn't fit elsewhere.
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The Montreal Canadiens salary cap strategy isn't about signing the biggest name on July 1st. It’s about being the only team in the room with the money to say "yes" when a cap-strapped contender needs to dump a star.
Real Numbers for the 2026-27 Season
Let's look at a realistic projection. If the cap hits $104 million:
- Core Forwards (Suzuki, Caufield, Slafkovsky, Newhook, Dach): ~$34 million.
- The Defense (Guhle, Hutson, Reinbacher, Xhekaj): This is the variable. Guhle is a bargain at $5.55M. Hutson might be $8M+. Let's call the top-four group ~$20 million.
- Goaltending: Samuel Montembeault is a steal at $3.15M, but Jacob Fowler will eventually need his entry-level bonuses covered.
Even with those raises, the Habs could still have roughly $25-30 million in open space. That is an absurd amount of flexibility for a team that should be entering its "win now" window.
Actionable Insights for the Future
If you're following the Habs' financial health, here is what you need to watch over the next 12 months:
- The Price Trade: Watch if Hughes trades Carey Price's contract to a floor-dwelling team (like Utah or San Jose) after his final signing bonus is paid in September. This would allow the Habs to stop using LTIR immediately.
- The Matheson Decision: Mike Matheson is an incredible value at $4.875M. He’s up for an extension soon. Do the Habs pay him for his veteran leadership, or do they trade him while his value is peak to clear even more room for the kids?
- The Bridge vs. Long-Term Debate: Keep an eye on Kirby Dach. If he stays healthy and produces, a long-term deal is coming. If not, another bridge deal might be the play to protect the cap.
The Montreal Canadiens salary cap is no longer a prison—it's a weapon. For the first time in a generation, the front office isn't reacting to the market; they are the ones defining it.
The next step for Montreal is to identify which "disgruntled star" on a cap-heavy team is going to become available. With the foundations of the salary structure already set in stone, Kent Hughes is simply waiting for the right phone call to bring the next piece of the puzzle to Montreal. Keep an eye on the 2026 trade deadline; that is when the real fireworks are likely to start.