The excitement around Ivan Demidov joining the Montreal Canadiens is hard to miss, especially after the announcement of his three-year entry-level contract (ELC). This deal is noteworthy, featuring a unique $525,000 bonus if Demidov wins the Conn Smythe Trophy, awarded to the most valuable player in the playoffs.
This bonus has sparked conversation on social media. Many fans wonder if Demidov, the fifth overall pick in the 2024 draft, aims to emulate Ken Dryden by winning the Conn Smythe. However, the reality is a bit more complex. The contract structure was designed to position Demidov financially for future bonuses during the second and third years of his deal.
Under the NHL’s 100 percent rule, a player can’t earn more than double their Year 1 salary in Year 2. This is particularly challenging for players like Demidov, who join mid-season and might not qualify for many performance bonuses in their rookie year. By including the Conn Smythe bonus, along with a $55,000 games-played bonus for the 2024-25 season, Demidov strategically set himself up for higher potential earnings of $2 million in the following year, and $3 million in Year 3.
Interestingly, Demidov’s situation contrasts with other recent top draft picks, who missed out on similar bonuses when they joined teams out of playoff contention. For example, Owen Power with the Buffalo Sabres and Matty Beniers with the Seattle Kraken weren’t able to negotiate Conn Smythe bonuses. As a result, their contracts included lower bonuses than what Demidov secured.
In comparison, Washington Capitals forward Ryan Leonard recently signed an ELC with a $275,000 Conn Smythe bonus, and Cale Makar had a similar clause back in 2018. The choice for these players often comes down to immediate playtime and potential earnings versus waiting and negotiating for better bonuses later.
Demidov’s arrival coincides with the Canadiens striving for a wild-card playoff spot, which works in his favor. His contract’s advantageous terms are tied to the team’s playoff aspirations. While it’s unlikely he will actually win the Conn Smythe Trophy in his first season, the favorable contract structure and the opportunity to participate in meaningful games are already a win for him.
In summary, Ivan Demidov’s signing with the Canadiens not only brings talent to the ice but also reflects clever financial planning that will benefit him in the long run. As the fanbase rallies behind him, keeping an eye on how he performs during his initial games will be exciting. The trajectory of Demidov’s career and the Canadiens’ playoff push could mark the beginning of an impressive journey for both.
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Montreal Canadiens, NHL, Sports
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