The Shocking Trade: 5 Reasons Why Carey Price’s Contract Moved To The San Jose Sharks And His True NHL Status
The recent trade of Carey Price’s substantial $10.5 million contract to the San Jose Sharks marks the definitive end of an era for the Montreal Canadiens and provides a clear signal about the superstar goaltender's future in the NHL. As of today, December 10, 2025, the transaction, which saw the future Hall of Famer's deal and a 2026 fifth-round pick move to the Sharks in exchange for minor-league defenseman Gannon Laroque, was a purely financial maneuver, confirming that Price’s playing career is effectively over due to a persistent, career-ending knee injury. This article dives deep into the complex reasons behind the move, a full profile of his legendary career, and the final status of one of the most decorated goalies of his generation.
The move, while purely for salary cap purposes, is a somber yet necessary step for the Canadiens franchise, allowing them to finally move past the $10.5 million annual average value (AAV) cap hit that has been sitting on long-term injured reserve (LTIR) since the 2022-2023 season. For the San Jose Sharks, the acquisition is a calculated move to weaponize their cap space and reach the NHL's salary cap floor, ensuring compliance while gaining an asset.
Carey Price: Full Biography, Career Highlights, and Major Awards
Carey Price is widely regarded as one of the most technically sound and dominant goaltenders of the post-lockout era. His career is a testament to consistency, mental fortitude, and exceptional skill, culminating in a historic 2014-2015 season that solidified his place among the greats.
- Full Name: Carey Price
- Born: August 16, 1987 (Anahim Lake, British Columbia, Canada)
- Drafted: 2005 NHL Entry Draft, 1st Round, 5th Overall by the Montreal Canadiens
- Primary Teams: Montreal Canadiens (2007–2024), San Jose Sharks (Contract Holder, 2024–2026)
- Contract: 8-year, $84 million extension ($10.5M AAV) signed in 2017, expiring at the end of the 2025-2026 season.
Major NHL and International Awards
Price’s trophy case is one of the most impressive in modern hockey, highlighted by a season sweep of the league's top individual honors in 2015:
- Hart Memorial Trophy (NHL MVP): 2014–15
- Vezina Trophy (Best Goaltender): 2014–15
- Ted Lindsay Award (Most Outstanding Player, Voted by NHLPA): 2014–15
- William M. Jennings Trophy (Fewest Goals Allowed): 2014–15 (Shared)
- Lou Marsh Trophy (Canada's Top Athlete): 2015
- Lionel Conacher Award (Canada's Top Male Athlete): 2015
- Olympic Gold Medal: 2014 (Team Canada)
- World Cup of Hockey Gold Medal: 2016 (Team Canada)
The Contract Dump: Why the Canadiens Traded a Legend's Deal
The trade that sent Price's contract to the San Jose Sharks, a transaction facilitated on a late Friday afternoon, was a stark reminder of the financial realities of the National Hockey League. This move was not about Price playing for the Sharks; it was a pure salary cap transaction that benefited both organizations in different ways.
The Montreal Canadiens' Cap Relief
For the Montreal Canadiens, the motivation was simple and crucial: freeing up long-term salary cap space. Price’s $10.5 million cap hit, even while on LTIR, complicates financial planning and limits a team’s flexibility to acquire talent or sign their younger core players to extensions. By offloading the final year of the contract (the 2025-2026 season), the Canadiens gain immediate and full cap flexibility. This allows General Manager Kent Hughes to aggressively pursue free agents or make trades without the long-term shadow of the massive contract. The return of minor-league defenseman Gannon Laroque was secondary to the cap relief.
The San Jose Sharks' Cap Floor Strategy
The San Jose Sharks, a team currently in a deep rebuild, are in the opposite situation. Teams must spend a minimum amount—the salary cap floor—to comply with league rules. Acquiring a high-AAV contract like Price's, which is almost certainly going to be placed on LTIR, is a common tactic for rebuilding teams to hit the cap floor without impacting their active roster or future plans. The Sharks absorb the cap hit, receive a valuable 2026 fifth-round draft pick as compensation for their service, and continue their rebuild without committing to a long-term, active player. This strategic use of cap space has become a valuable commodity in the modern NHL.
Carey Price's Retirement Status and Health Update
The trade confirms what has been speculated for years: Carey Price’s playing days are over. His last NHL appearance was in April 2022, and he has been battling a debilitating knee injury that has resisted all attempts at rehabilitation.
The Knee Injury and Final Statement
The primary reason for his absence is a persistent knee issue that has required extensive medical attention. In September 2023, Price himself made a brutally honest health reveal, stating publicly that he does not intend to play hockey again due to the state of his knee. This declaration, combined with the contract trade, provides finality to his professional career. The knee injury, which was reported to potentially be career-ending, ultimately forced the early conclusion of his Hall of Fame-caliber run.
The Personal Battle and Player Assistance Program
In a display of his characteristic honesty and courage, Price also publicly addressed a personal struggle earlier in his career. He voluntarily entered the NHL/NHLPA Player Assistance Program, seeking help for substance use. His willingness to be open about this challenge, which is separate from his physical health, was praised across the hockey world and highlighted his profound impact beyond the ice. He continues to visit the Canadiens organization, maintaining a presence in Montreal despite the trade of his contract.
The Undeniable Legacy of Number 31 in Montreal
Despite the trade, Carey Price's legacy as the face of the Montreal Canadiens franchise for over a decade remains absolutely secure. He is one of the most beloved and impactful players in the team's storied history, having carried the hopes of the *Habs* through numerous playoff runs, including a trip to the Stanley Cup Final in 2021. His impact on the city, the team, and the sport is undeniable.
The topical authority surrounding Price is immense, with key entities like the Vezina Trophy, Hart Memorial Trophy, Ted Lindsay Award, and his Olympic Gold Medal serving as markers of his unparalleled excellence. His status as the franchise goaltender and a perennial All-Star meant he was constantly under the microscope in the intense Montreal market. While the jersey trade to the San Jose Sharks is a cold, business-driven move, it does not diminish the emotional connection or the historical significance of his time with the Canadiens. The $10.5 million AAV contract may now be on the Sharks' books, but the memories of his spectacular saves and clutch performances belong forever to the *bleu-blanc-rouge* faithful. The 2025-2026 season will serve as the final chapter for the contract, but the legend of Carey Price will endure.
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