The Montreal Canadiens have signed core players to long-term contract extensions with a cap hit that's based on potential rather than history. That's worked well for them so far, so they did the same to Ivan Demidov.
Kent Hughes and the Montreal Canadiens have done it again.
When free agency opened on July 1 at noon, the Canadiens wasted no time locking up a cornerstone piece of their franchise, coming to terms with 20-year-old right winger Ivan Demidov on an eight-year contract extension worth $9.15 million annually.
Demidov's new contract won't kick in until the 2026-27 season, as he has one final year on his entry-level contract.
This isn't an unusual move for the Canadiens. On multiple occasions, the Habs have been eager to sign their top players a year before their contracts expire. They did so with Nick Suzuki, Juraj Slafkovsky, Lane Hutson and now, Demidov.
There is a level of risk with these deals that could pay off greatly.
The risk that comes with these deals is that you are often paying the player for what they could become, rather than for what they've shown. If they don't reach the level expected of them, the organization could be left paying a fairly high price for an underperforming player under contract.
But for the Habs, it's worked to perfection.
Suzuki and Slafkovsky have more than panned out, with 101 and 73 points this past season, respectively. They are key pillars of a team that went to the Eastern Conference final on contracts far below their value.
Demidov and Hutson have broken out earlier than Suzuki and Slafkovsky and are safer gambles. Demidov led NHL rookies in scoring, with 62 points, while Hutson, the 2024-25 Calder Trophy winner, ranked fourth in league-wide scoring by a D-man, with 78 points.
Will Other Teams Follow Montreal's Approach?
With the recent success of these moves made by the Canadiens, is this a trend that more NHL teams can follow? The San Jose Sharks could be interested in this approach.
Macklin Celebrini and Will Smith are now eligible to sign contract extensions this off-season. While Celebrini has already developed into one of the top players in the NHL, Smith hasn't completely broken out yet. If the Sharks can lock him up to a deal similar to Demidov's before Smith breaks out, they could sign a cornerstone player to a contract that could prove to be a bargain.
The Sharks could then do the same with Michael Misa and Sam Dickinson next season, before attempting to do something similar with Ivar Stenberg the year after that.
Sometimes, a bit of good fortune is needed. If a player breaks out too early, it becomes difficult to lock them up on a contract that could be considered a steal.
Take the Anaheim Ducks as an example. If they had signed Leo Carlsson and Cutter Gautheir last off-season, their contracts would be a lot cheaper than what they are going to sign this year. Perhaps the players will want to sign a bridge deal instead and maximize their earnings later on.
To have success in the NHL, you need to be willing to take chances, whether it's trades, UFA moves or early extensions for young players. Montreal's chances are succeeding so far.
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