As if the hype accompanying Ivan Demidov’s pending arrival to the Montreal Canadiens wasn’t already going to be tough enough to contain under the roof at Bell Centre.
Then amid the euphoria of Tuesday’s announcement that the 19-year-old Russian winger had signed a three-year entry-level contract came this delicious nugget: The deal includes a $525,000 bonus if he wins the Conn Smythe Trophy as MVP of the upcoming playoffs.
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That was quickly (and understandably) misinterpreted by many on social media as a statement of intent from the fifth overall pick in the 2024 draft, who is parachuting directly into the final days of the Canadiens’ playoff push following a season where he more than held his own against men in the KHL.
Does Demidov really believe he can follow in Ken Dryden’s footsteps by winning the Conn Smythe Trophy before even burning through his rookie eligibility as an NHL player?
No. Not exactly.
The actual thinking behind the structure of his contract and that Conn Smythe bonus was maximizing the amount he is eligible to earn in performance bonuses in Years 2 and 3 of the deal, according to league sources.
Let me explain: Every player signing his first NHL contract to begin late in the season runs into a challenge because of the 100% rule. That rule prevents anything more than a 100% increase in compensation from Year 1 to Year 2 of a contract, and stipulates that a subsequent year can’t see an additional increase that exceeds the lower of Year 1 or Year 2 compensation — which is problematic for a late-season signing because he isn’t going to play enough games right away to qualify for “Schedule A” individual bonuses or the “Schedule B” bonuses reserved for major league awards.
Well, at least none of the major awards handed out during the regular season. That’s where the Conn Smythe bonus comes in.
By securing that plus a $55,000 games-played bonus in his contract for 2024-25, Demidov was able to command $2 million in potential bonuses for 2025-26 and $3 million in potential bonuses for 2026-27. That contract structure will prove lucrative if he has a productive start to his NHL career. The full breakdown of Demidov’s deal can be found here:
The #GoHabsGo signed ’24 #5 Pick Demidov to 3 year ELC starting this year
Yr 1 775K NHL, 97.5K Signing Bonus, 55K GP Bonus, 525K Conn Smythe Bonus
Yr 2: 877.5 & 97.5K SB, 1M “A” Perf Bonus, 1M “B PB
Yr 3 877.5/97.5/1M/2MCap Hit 941K, AAV $2.63M
Rep’d by @HockeyAgent1…
— PuckPedia (@PuckPedia) April 8, 2025
Of particular note is the fact that this option wasn’t available to other recent top draft picks when signing with teams that weren’t headed for the playoffs. Those organizations weren’t permitted to include a Conn Smythe bonus, which is why it didn’t appear in the ELC’s signed by Buffalo Sabres defenseman Owen Power and Seattle Kraken forward Matty Beniers late in the 2021-22 season, or the one signed by New Jersey Devils defenseman Luke Hughes toward the end of 2022-23.
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Those players all received lower Year 2 and Year 3 bonuses than Demidov as a result.
Washington Capitals forward Ryan Leonard, it should be noted, secured a Conn Smythe bonus worth $275,000 when he signed his ELC on March 31. Colorado Avalanche defenseman Cale Makar previously had one in his ELC for the 2018-19 season.
Viewed from another angle, Demidov benefited from Montreal’s spirited second-half push for a wild-card spot in the Eastern Conference, and not only because he may end up dressing for games in the Stanley Cup playoffs in the coming weeks. The team’s run cleared the way for him to receive a more favorable ELC than he would have been eligible to sign had they already been officially eliminated from postseason contention
So, while the teenager may not actually claim the Conn Smythe Trophy and cash that nice bonus this spring, he’s already scored a win regardless.
(Photo: Candice Ward / Getty Images)
This news was originally published on this post .
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