Proposal: Mutual termination of Carey Price's contract

[The90]

He deserves every cent that they signed him for. He’s been propping up that franchise for a decade and took a middling team at best to a cup final. He’s a special player.

 

[Jumptheshark]

it is not that easy to nuke a contract

See ALL the Roberto Luongo discussions.

NHLPA will suggest to PRice to retire

 

[Frank Drebin]

This is a stupid suggestions, it's an all risk move by Price and there are literally no downsides for the Habs. It's pure homer thought to think this would ever fly.

Price isn't going to give up over $30 million because the Habs suck. If the Habs want out of his deal, buy him out.

In order for price to consider this a handshake deal with his new team would already have been agreed on, I didn't think I'd have to explain that but here we are.

He wouldn't be giving up 32m of guaranteed money, he'd be giving up 10m of guaranteed money.

With 100m of career earnings to date and some decent financial planning, I wouldn't be surprised if his net worth increases 5+m per year before he collects a dime.

 

[BatVader]

So Price agrees to give up almost half his money, just to help the Habs out….
Good luck with that

Bargain Bin agreed to that horrendous contract, so the Habs are stuck with it.
Even the buyout numbers suck for Montreal

 

[archangel2]

there has to be a reason for both sides to agree to termination.

 

[Habs10025]

This idea was stolen from one of the members on the Habs board.

After this season, Price will have collected 52.75M in the first 4 years of his 8 year, 84m deal. His real salary over the next 4 years is 31.25m. (7.8 per year)

Carey Price

Looking at the direction of the Montreal Canadiens, the chance for another cup before his career is done, is basically nil.

I do believe there would be interest around the league in Price as a UFA in the range of 5-6m/4 years. Of course there would be risk involved, but Price has shown as recently as last spring he's not only capable of backing a Stanley Cup team, but he can still be one of the best players in the league, albeit for short periods of time.

So this is the proposal:

Price and the Montreal Canadiens mutually part ways. The contract is ripped up. Habs are relieved of his atrocious cap hit during a rebuild and Price is given the choice to go to whatever team he wants for his final 4 seasons. Price loses some real salary in a sacrifice to go to a winning team and out of Montreal.

A suitor in need of a goalie, signs Price to a 4 year contract for say 5.5m per year.

The suitor team gets an elite playoff goalie at a fair cap hit.
Price gets out of Montreal, a chance to win, at the cost of 9m in career earnings. (~125m career earnings vs 135m)
Montreal kickstarts their rebuild.

Could you see such a thing happening? Am I offbase in thinking there would be interest in Carey Price if the only asset given up was 5.5m or 6.0m in cap hit?

Is such a thing allowed under the current CBA?

Isn't happening.

 

[beowulf]

This is an insane idea and won't happen.

 

[Frank Drebin]

So Price agrees to give up almost half his money, just to help the Habs out….
Good luck with that

Bargain Bin agreed to that horrendous contract, so the Habs are stuck with it.
Even the buyout numbers suck for Montreal

Well it can help him out as well, I mean if he cared about winning the Cup perhaps that's worth 8% of his career earnings?

But he's free to rot the remainder of his career away in Montreal too and buy a nice 4th and 5th vacation homes with that extra dough.

 

[pomx]

OP I’ll smoke what you’re smoking

 

[Bringer of Jollity]

Montreal is apparently some kind of altruistic, socialist utopia where rich people work differently than everywhere else. First Weber's going to forego a couple million at the end of his contract to retire instead of LTIRetire, then Price is going to give up a guaranteed $30+ million (which he won't possibly regain otherwise) to ply his trade elsewhere. All because "they've made enough." What a selfless paradise they've got up there helping to give those poor Molsons a break.

 

[T_Cage]

I shouldn’t have to explain why this is unlikely, but here we are

a “handshake deal” with another team for Montreal to dump him and then that team to sign him would be pretty obvious tampering. It’s unlikely the other 30 teams or the league would let that go

I also have to think the PA would fight it as well because of the precedent it sets (guaranteed contracts are a big hill they have fought on), so MTL wouldn’t get any help there either

and ALL this is predicated in the idea price would go along with the pay cut, which we aren’t even sure of and seems a little far fetched tbh

 

[HabsAddict]

Price has the team wrapped around his finger and it's not going to go anywhere he doesn't want to point.

But....if I was GM and he said he wanted to play for the Olympics, I would give him the same treatment he's giving the team. He's gone to a nicely PR'ed "dark place" but all of a sudden, there's lots of light to play in the Olympics? Sure, waive your NMC. Then I would trade him to the best offer and it probably would not be where he wants. In fact, I would go out of my way to trade him in the least desirable team.

You don't want to waive your NMC, sorry, but the team comes first.

I'm a HABs fan, not a Price acolyte.....

 

[WhiskeyYerTheDevils]

It would be best for his legacy to play his final 4 years somewhere else than Montreal with a chance to win. Even if he doesn't win a cup, at least he had a chance.

The current structure of his cap hit makes moving him impossible. We're not going to eat 5m cap, nor is a team going to pay the price we would be asking. This is the only way he's going to sniff a chance at the cup before he retires.

If the 10m is that important, then I guess he can rot out his final years with a rebuilding team.

I don't get it. If Montreal is already determined to be terrible for the next 4 years, what's the issue with retaining a bunch on that contract?

 

[ottawah]

30 M when you are worth 1M isn't the same as when you've already earned 96 M (not even counting sponsorship and what not)
Also, it isn't exactly 30 M since he would probably get at the very least 15M from another team.

Well, 96M is not really 96M. subtract about 15% escrow and 5% agent fees, then > 50% tax rate in Quebec. He's probably cleared 40Mish with sponsorship. You'd have to assume he has spent 10M at least at this point in his career, given his Montreal and Kelowna houses alone. So maybe he has 30M banked, and thats a big maybe given other lifestyle and family costs. Thats 500K a year spending cash (60 year amortization, 5% investment income minus taxes) which for someone used to that lifestyle is not substantial. (although he would probably sell the Montreal house). The 13M is real cash that gives a nice cushion. I cannot see him giving that up.

And given his play the last 5 years, he may get a 5M one year contract, but thats year by year, and one flub season and he is done.

 

[PAZ]

Price has the team wrapped around his finger and it's not going to go anywhere he doesn't want to point.

But....if I was GM and he said he wanted to play for the Olympics, I would give him the same treatment he's giving the team. He's gone to a nicely PR'ed "dark place" but all of a sudden, there's lots of light to play in the Olympics? Sure, waive your NMC. Then I would trade him to the best offer and it probably would not be where he wants. In fact, I would go out of my way to trade him in the least desirable team.

You don't want to waive your NMC, sorry, but the team comes first.

I'm a HABs fan, not a Price acolyte.....

This is a horrendous take, you should be ashamed. Price decided to seek help from a drug addiction that is highly detrimental to his health, and you think this is some PR stunt and is actively trying to sabotage the Habs? Jesus man, get a grip.

Also, why would you want to send that type of message to the face of the franchise? “We’re sorry we couldn’t build a cup contender around you during your prime when you were the best goalie in the planet, but now that you’re on the decline of your career and you’re dealing with some personal off-ice issues, you can screw off”.

 

[jfhabs]

Well, 96M is not really 96M. subtract about 15% escrow and 5% agent fees, then > 50% tax rate in Quebec. He's probably cleared 40Mish with sponsorship. You'd have to assume he has spent 10M at least at this point in his career, given his Montreal and Kelowna houses alone. So maybe he has 30M banked, and thats a big maybe given other lifestyle and family costs. Thats 500K a year spending cash (60 year amortization, 5% investment income minus taxes) which for someone used to that lifestyle is not substantial. (although he would probably sell the Montreal house). The 13M is real cash that gives a nice cushion. I cannot see him giving that up.

And given his play the last 5 years, he may get a 5M one year contract, but thats year by year, and one flub season and he is done.

You need a real financial advisor or fire the one you currently have.

 

[BargainBinSpecial]

Don't see this happening. Price won't walk away from all that guaranteed money. A buy-out is more likely, but the Habs can just keep him on LTIR indefinately, as long as they have some medical proof. The Habs can free up 10.5 mil from the cap for the next 2 years (as long as he stays on LTIR) and then proceed with a proper buyout. It will eat up about 9.167 mil of your cap until 2026 and then another 667k until 2028.

 

[beowulf]

Price has the team wrapped around his finger and it's not going to go anywhere he doesn't want to point.

But....if I was GM and he said he wanted to play for the Olympics, I would give him the same treatment he's giving the team. He's gone to a nicely PR'ed "dark place" but all of a sudden, there's lots of light to play in the Olympics? Sure, waive your NMC. Then I would trade him to the best offer and it probably would not be where he wants. In fact, I would go out of my way to trade him in the least desirable team.

You don't want to waive your NMC, sorry, but the team comes first.

I'm a HABs fan, not a Price acolyte.....

Wow you should be embarrassed of this post.

 

[BatVader]

This is a horrendous take, you should be ashamed. Price decided to seek help from a drug addiction that is highly detrimental to his health, and you think this is some PR stunt and is actively trying to sabotage the Habs? Jesus man, get a grip.

Also, why would you want to send that type of message to the face of the franchise? “We’re sorry we couldn’t build a cup contender around you during your prime when you were the best goalie in the planet, but now that you’re on the decline of your career and you’re dealing with some personal off-ice issues, you can screw off”.

Lol… then they’d wonder why no one wants to sign there afterwards

 

[Seattlebjprice]

I believe what you’re wanting is called a “buy out”.

No player will ever give up a contract.

If you don’t like your goalie buy him out like every other team.

 

[Canadian Game]

Habs fans before the Seattle expansion draft: “Leave Price alone! Hab for life!”

Habs fans in November: “Terminate the contract! Let him walk!!”

 

[HabsAddict]

Wow you should be embarrassed of this post.

This is a horrendous take, you should be ashamed. Price decided to seek help from a drug addiction that is highly detrimental to his health, and you think this is some PR stunt and is actively trying to sabotage the Habs? Jesus man, get a grip.

Also, why would you want to send that type of message to the face of the franchise? “We’re sorry we couldn’t build a cup contender around you during your prime when you were the best goalie in the planet, but now that you’re on the decline of your career and you’re dealing with some personal off-ice issues, you can screw off”.

Ahh...the sanctimonious droplets. You triggered bro?

Decline? It's Price who brought on himself the substance abuse. AFTER he signed a 80 million contract.

 

[Frank Drebin]

I don't get it. If Montreal is already determined to be terrible for the next 4 years, what's the issue with retaining a bunch on that contract?

I was just looking at it from an acquiring teams point of view, and the most feasible way to get him out of town for his sake.

We could retain through the rebuild no problem, but what is 5mx4 years on the cap worth? Realistically probably a couple of firsts. Would any team pay 2 or more firsts for price at 5m retained? A lot of risk there for the acquiring team.

But, if they could sign ufa price at 5.5 with the only compensation being cap space, I could see teams like Colorado or edmonton being interested.

Or maybe I'm out to lunch and no one wants price at any cost.

 

[BatVader]

I believe what you’re wanting is called a “buy out”.

No player will ever give up a contract.

If you don’t like your goalie buy him out like every other team.

Lol….that wouldn’t help…

 

[Frank Drebin]

Habs fans before the Seattle expansion draft: “Leave Price alone! Hab for life!”

Habs fans in November: “Terminate the contract! Let him walk!!”

What? Price was great in the playoffs but most of us would have been happy to see both sides get a fresh start.