The trade will allow the Canadiens to begin the season with Price on the books, and then put him on long-term injured reserve as soon as the roster deadline passes to begin the season.
“LTI isn’t a perfect situation for any team,” Hughes said during a virtual press conference Tuesday. “I know some people think it’s simple and you just use the money that player’s salary occupied, but it’s a little more complicated. Having said that, if we find opportunities again, like we did last time with
Sean Monahan, where we think it’s worthwhile, we’ll do it and put ourselves in offseason LTI.
“But we think, as of right now, we’re safe to go in-season with Carey.”
Why is this important? It’s complicated, as Hughes mentioned. I have spent far too much of my time and energy trying to understand it properly ever since the 2021 season ended, and I still don’t think I’m entirely there. But the essential difference between offseason and in-season LTIR can be simplified to one basic concept, and that is flexibility.
With offseason LTIR, the Canadiens get locked into a cap number, and that number essentially means zero cap space. It’s almost like Price’s cap number just disappears, with all that’s left behind is the Canadiens having little to no cap space. With in-season LTIR, the Canadiens would make it so they are as close to the cap as possible when they designate Price, and then they would have Price’s $10.5 million in salary minus how much cap space they had when he was placed on LTIR as cap space to use during the season.
Simple enough? Didn’t think so.
Again, if you want the simplified version, think of it in terms of taking the path with more flexibility built in and avoiding the path that is more rigid and restrictive.
Except as of right now, the Canadiens are over the $83.5 million salary cap with Price on the roster. But what’s important to remember is they have six players who are exempt from waivers:
Juraj Slafkovský, Rafaël Harvey-Pinard,
Arber Xhekaj,
Kaiden Guhle,
Justin Barron and
Jordan Harris. That means the Canadiens can send some of those players down to the AHL on paper in order to file their roster to the league and make it cap-compliant, and then bring them back up once Price has been placed on LTIR.