Canadiens sign goaltender Carey Price to an eight-year contract extension.
— Canadiens Montréal (@CanadiensMTL) July 2, 2017
The contract will be an 8-year, $84 million deal that comes with an annual cap hit of $10.5 million. This deal will take Carey Price up to the age of 38. As Price is still under his original $6.5 million cap hit for the next season, the new deal will not count towards Montreal’s cap until the 2018-19 season. Of the $84 million Price will be earning, $70 million of it will come in signing bonuses.
His $10.5m average will be tied with Jonathan Toews and Patrick Kane for the highest in the NHL (until the rumored McDavid signing). It is also $2m more than the next highest paid goalie in Henrik Lundqvist. Although the price may be very high, the Habs absolutely needed to get their franchise player signed up long term at all costs. Canadiens fans should have no worries about this deal, and just be glad that their star player and the best goalie in the world will be a part of the Habs for 8 years to come.
Stay tuned as we will be posting an in-depth analysis on the Price signing sometime tomorrow.