BREAKING NEWS: Canadiens To Leverage Salary Retention at Trade Deadline

The Montreal Canadiens executed a significant transaction by sending Sean Monahan to the Winnipeg Jets in exchange for a first-round pick in the upcoming 2024 draft on February 2nd. General Manager Kent Hughes emphasized during his press briefing that if he were to utilize the team’s remaining salary retention slot this season, he aimed for a more advantageous deal offering greater value. As the trade deadline approaches, Hughes faces the choice of either trading other players for optimal returns or engaging as a third party in transactions with other teams. Let’s examine three potential strategies for Hughes to utilize the team’s final retention spot effectively.

Trade Allen and Get the Highest Return

Speculations have abounded throughout the season regarding a potential trade involving Jake Allen, particularly as the Montreal Canadiens persist with a three-goalie arrangement. While Allen showcased strong performance at the beginning of the campaign, his form has declined since Christmas, leading to concerns that the system may be adversely affecting both his play and his trade prospects. Over his last ten starts since December, Allen has only secured victory in two games, with a save percentage (SV%) of .885.

Many observers believe that the window for trading Allen may be closing, especially considering that the Edmonton Oilers have resolved their goaltending situation internally, the Carolina Hurricanes appear unhurried in addressing theirs, and the New Jersey Devils are seeking a starting goaltender. The Colorado Avalanche could potentially benefit from acquiring a dependable backup goaltender for their playoff push, a role in which Allen could excel, given his past experience, including winning the Stanley Cup with the St. Louis Blues in 2019.

Nevertheless, obtaining optimal value for Allen may prove challenging due to his recent performance leading up to the trade deadline. General Manager Kent Hughes may need to rely on Allen’s track record as a dependable goaltender with playoff experience to attract interest from potential suitors. With rumors circulating about the availability of higher-tier starting goaltenders such as Juuse Saros and Jakob Markstrom, securing a quality return for Allen could become increasingly elusive.

Opting not to trade Allen would necessitate the Canadiens persisting with their three-goalie system, which could potentially hinder the performance of all three netminders. Moving Allen now and receiving a return close to his best value would likely require Hughes to retain a portion of his just under $4 million salary, as Allen is under contract until the conclusion of next season. Any team could benefit from having a quality backup goaltender, provided he receives sufficient playing time to maintain his form.

Trading Pearson, Savard or Armia at the Deadline

The Montreal Canadiens have several players they might consider moving before the trade deadline, namely Tanner Pearson, Joel Armia, and David Savard. Pearson, whose contract is set to expire, could bolster the bottom-six of any contending team. Similarly, Armia, with one more year left on his contract, offers value but may be challenging to move independently.

In contrast, Savard possesses the qualities coveted by many contending teams in a defenseman. However, his contract term and salary might present a hurdle, as he is signed for another year at $3.5 million. Nonetheless, retaining a portion of Savard’s salary could significantly enhance his trade value, given the tendency of NHL general managers to overspend on defensive defensemen, especially at the deadline. While the Canadiens could potentially secure a first-round pick for Savard, using retention could fetch an even higher return. Alternatively, Hughes might opt to wait until the next season’s deadline when Savard’s value could potentially increase further.

Pearson’s expiring contract represents an asset at the deadline, but his inconsistent play, compounded by injuries, may diminish his trade value. While he has shown flashes of brilliance, his recent performance has been lackluster, making it unwise to utilize retention for him, as it would likely only secure a trade destination without yielding additional benefits.

Armia emerges as the prime candidate for salary retention. He has experienced a resurgence in form recently and could bolster the bottom-six and penalty kill of a contending team. Despite having another season remaining on his contract at $3.4 million, retaining half of his salary could make him an attractive acquisition, given his versatility to excel on the fourth line and step into second or third-line roles as needed.

Canadiens Could Use Retention to Help Other Teams

Another viable option for Hughes is to act as a third party in a trade involving other teams. This strategy proved successful when he facilitated a deal involving Jeff Petry, acquiring a player on retention and subsequently flipping them to another team, significantly reducing the player’s salary for the third team. Given that many contending teams are constrained by salary cap limitations, any reduction in salary would be crucial in finalizing favorable deals. Hughes could leverage another team’s cap situation to acquire valuable assets.

By participating as a third party in a significant trade, Hughes could enhance his returns by retaining salary on the key player being moved. This approach might enable him to secure assets from both teams involved, thereby maximizing the return on investment. However, the success of this strategy depends on the willingness of the teams involved to make the trade and their available cap space. Hughes’s track record as a skilled negotiator suggests that he could capitalize on such opportunities effectively.

Alternatively, Hughes could explore the possibility of trading high-profile players with substantial contracts, such as Brendon Gallagher or Josh Anderson. Nevertheless, retaining salary for multiple seasons would be necessary in such cases, and both players’ contracts would continue to impact the Canadiens’ salary cap until their expiration.

To optimize the use of salary retention, Hughes could focus on trading players with short-term contracts or aiding other teams in acquiring players with similar contract durations. This approach would ensure that the salary retained does not burden the Canadiens’ salary cap beyond a season or two.