Montreal Canadiens Involved in Nick Bonino Trade

The Montreal Canadiens acted as salary-cap brokers in a three-way trade involving the San Jose Sharks and the Pittsburgh Penguins.

Forward Nick Bonino is heading to the Penguins, and the Habs will receive a 2024 fifth-round pick for their part in the deal, as well as 27-year-old defenceman Tony Sund.

Sund is Canadiens prospect Adam Engstrom’s defensive partner in Rogle.

The #habs are playing third-party broker in the Nick Bonino trade between SJ/PIT. They get a fifth-round draft pick for the trouble.

— Chris Johnston (@reporterchris) March 3, 2023

It turns out the Canadiens received more than the Sharks in the trade, seeing as they had to send the fifth-round pick to Montreal to ensure the finances line up and the trade could go through.

Montreal is retaining 50 percent of Bonino’s salary in the trade. By retaining salary, the Canadiens only have one retention spot left this season.

TRADE

To Pittsburgh #LetsGoPens
F Nick Bonino (50% retained)

To San Jose #SJSharks
D Arvid Henriksson
2024 conditional 5th round pick
2023 7th round pick

To Montreal #GoHabsGo
F Nick Bonino (50% retained)
D Tony Sund
2024 5th round pickhttps://t.co/B0cIKP3nDb

— CapFriendly (@CapFriendly) March 3, 2023

It was a tidy bit of business by Montreal Canadiens general manager Kent Hughes, and though a fifth-round pick is not a game-changing asset, it was a smart use of the salary cap flexibility the Canadiens currently have, seeing as it is an expiring asset.

It goes to show the importance and value of salary cap flexibility in the NHL. It has become one of the most valuable assets in the NHL, as teams perform cap gymnastics in a bid to solidify their rosters prior to the playoffs.

The NHL’s salary cap is expected to be relatively stagnant next season, which has put several teams in a difficult financial situation.

Even though the Canadiens exceeded the salary cap this season, due to the laundry list of injured players, they were offered salary cap relief thanks to the long-term injured reserve (LTIR), which they have used on several occasions this season.

The rules involved in the LTIR are rather complicated, and can be explored further by heading to CapFriendly, but simply put, the long-term injured reserve gives teams a little leeway if the overall cap hit begins to exceed the upper limit. The salary cap relief is calculated on the day the player is placed on the long-term injured reserve, however, it should be noted players can be added retroactively.

All NHL and Montreal Canadiens salary cap information vis CapFriendly.