The bulk of the trade talk involving the Montreal Canadiens has revolved around Columbus Blue Jackets forward Kirill Marchenko.
And while that deal may not have totally gone away, another deal might happen before that. The deal in question is moving goaltender Samuel Montembeault.
Montembeault, who was once the Habs’ goalie of the future, has slid so far down the depth chart that he’s now on the chopping block. The problem is that his recent performance is hardly commensurate with his cap hit.
But that may not stop the Habs from dumping him on a goalie-starved team. The most immediate candidate would be the Edmonton Oilers. There might be a goaltending issue brewing in Oil Country, potentially leading them to kick the tires on every available netminder.
Edmonton is just one example. Other teams may be an injury away from scrambling for a solution. And if that happens, the Canadiens may be able to cash in on another team’s misfortune.
So, what does “cash in” actually mean?
Let’s put it this way: Instead of dumping Montembeault for a fifth-round pick, the Habs could get something closer to a second-rounder and potentially a prospect. Two to three reasonable pieces would be a heck of a return for a player who’s closer to the waiver wire than the NHL.
Montreal Can Send Montembeault Down and Buy Some Time
The immediate problem for the Canadiens is that Montembeault isn’t waiver-exempt.
If Montreal wants to send him to the AHL, he will have to clear waivers first. That makes the situation rather interesting because there is little reason to believe another team would suddenly want to claim a goaltender carrying a $3.15 million cap hit.
Montreal could therefore have a reasonable expectation that Montembeault clears.
That wouldn’t solve the Canadiens’ cap problem, but it would solve part of their roster problem.
Under the 2026-27 buried-cap threshold, a player sent to the AHL can provide up to $1.225 million in cap relief. With Montembeault’s $3.15 million cap hit, Montreal would still carry roughly $1.925 million against the cap.
That’s not nothing.
More importantly, it gives the Canadiens some breathing room.
They don’t have to force a trade simply because Montembeault no longer fits their plans. They can put him in Laval, keep him available and wait for the market to change.
Because it probably will.
All it takes is one goalie injury or one contender discovering that its goaltending situation isn’t nearly as stable as it thought.
That’s when Montembeault becomes interesting.
The Canadiens May Just Have to Wait for Someone to Panic
A Montembeault trade probably doesn’t happen immediately.
And that’s perfectly fine for the Canadiens, provided they aren’t desperate for the cap space right away.
The problem is that Montreal eventually needs to create more room if it wants to make another significant addition. That’s especially important if the Canadiens are still serious about pursuing Marchenko.
Columbus, meanwhile, doesn’t look like an obvious landing spot for Montembeault. The Blue Jackets have Jet Greaves locked up on a three-year, $15 million deal, while Elvis Merzlikins is currently sidelined after shoulder surgery.
That could make the Blue Jackets’ situation complicated, but it doesn’t necessarily make Montembeault the answer.
So Montreal may have to sit tight.
That’s not necessarily a bad thing.
The Canadiens don’t need to trade Montembeault to the first team that calls. They need to wait for the team that needs him.
There is a major difference.
Maybe that’s Edmonton. Perhaps it’s another contender hit by an injury. Maybe it’s a team that reaches training camp and suddenly realizes its goaltending situation isn’t good enough.
When that happens, the Canadiens could have something valuable.
Montembeault isn’t likely to command a massive return under normal circumstances. But desperation changes the equation.
Instead of dumping him for a fifth-round pick, Montreal could potentially ask for a useful prospect or a higher draft pick.
And if the Canadiens can turn a goaltender who appears destined for the waiver wire into two or three legitimate assets, waiting will have been worth it.
Sometimes the best trade is the one you don’t make until somebody else gets desperate enough to make it for you.
Canadiens Could Cash In on Team Starved for a Goalie