The Montreal Canadiens have finished their RFA work for the summer, signing Cayden Primeau to a new three-year contract. Interestingly enough it is a one-way contract for all three years, paying him an average annual value of $890K. Primeau will earn $770K in 2022-23, $800K in 2023-24, and $1.1MM in 2024-25.
As CapFriendly points out, the young netminder is waiver-exempt for one more season (or 56 games, should he assume full-time duties for some reason). This will give them the chance to run a tandem of Jake Allen and Sam Montembeault this season, with the former becoming an unrestricted free agent next summer (though Andy Strickland of Bally Sports Midwest tweets that extension talks between Allen and the Canadiens have begun).
Even when Primeau does become eligible for waivers, a contract like this could potentially help him slip through. It is not as if he has proven himself at the NHL level to this point. The 23-year-old netminder has an .874 save percentage in 18 appearances with the Canadiens, and despite considerable hype, has had mixed results even at the AHL level.
This is a bet on his potential and the incremental growth he is expected to experience over the next few years. At some point, the Canadiens are hoping that he takes over one of the NHL jobs and even if he doesn’t, the deal isn’t so lucrative as to negatively affect their cap situation. The entire hit can be buried in the minor leagues if necessary, and Primeau is still young enough to be a restricted free agent at its expiry.
Plan the parade.
@Gavin— “This will give them the chance to run a tandem of Jake Allen and Sam Montembeault this season, with the latter becoming an unrestricted free agent next summer…” Did you mean the “former” here? It’s a little weird to see both goalies potentially going UFA in back-to-back years. It makes you wonder how long their rebuild is really going to take, eh?
@Gavin – Thanks!