The Montreal Canadiens have two fascinating decisions to make before training camp, and either one could potentially lead Kent Hughes back to the NHL trade market.
Defenseman Arber Xhekaj and forward Zachary Bolduc remain unsigned restricted free agents, and Montreal Gazette columnist Stu Cowan has raised the possibility that one could ultimately become part of a sign-and-trade transaction before training camp opens September 16.
Let’s make one thing clear immediately: there is no confirmation that the Montreal Canadiens are actively shopping Xhekaj or Bolduc. This is speculation built around their unsigned status, Montreal’s roster construction and the possibility that Hughes still wants to improve his team.
But the timing deserves attention.
As of August 14, PuckPedia continues to list both Xhekaj and Bolduc as RFAs without contracts for the 2026-27 season.
And from my perspective, the more interesting question isn’t whether Montreal wants to trade either player.
It’s whether one of them could become the currency Hughes needs to acquire a more important piece.
Why Arber Xhekaj and Zachary Bolduc Have Become Canadiens Trade Chips
The Canadiens aren’t dealing from a position of desperation.
Montreal has a young roster coming off a 106-point regular season and a run to the Eastern Conference Final. The organization also has significant young talent already established on its NHL roster.
That changes the equation for Hughes.
At this point in Montreal’s build, accumulating interesting young players isn’t the only objective. The Canadiens have reached the stage where turning multiple good assets into one better roster piece should be considered.
That’s why Xhekaj and Bolduc are worth discussing.
Arber Xhekaj May Be Worth More as a Trade Asset Than Montreal’s No. 7 Defenseman
Xhekaj might be the more emotionally difficult player for Canadiens fans to lose.
The 25-year-old brings an element Montreal doesn’t have in abundance: intimidation, physicality and a genuine willingness to defend teammates.
But roster construction doesn’t care about popularity.
Montreal did not consistently use Xhekaj in a major role, and his playoff workload became particularly revealing. He appeared in 13 playoff games but averaged only 8:06 of ice time before being removed from the lineup against Carolina.
Xhekaj recorded one goal and three assists during the 2025-26 regular season, while his physical presence remained a major part of his identity.
That’s where I see the dilemma.
If Martin St. Louis doesn’t envision Xhekaj playing 15 to 18 minutes every night, another organization might value him more highly than Montreal can justify based strictly on his place on its depth chart.
And when Adam Engström and David Reinbacher are also pushing for NHL opportunities, that becomes significant. In other words, Xhekaj could have the unusual distinction of being more valuable on the trade market than he is in Montreal’s lineup.
Arber Xhekaj Career NHL Stats
| Type | GP | G | A | P | +/- |
|---|---|---|---|---|---|
| Regular Season | 230 | 10 | 23 | 33 | -24 |
| Playoffs | 16 | 1 | 1 | 2 | 6 |
Zachary Bolduc Would Be Much Harder for the Canadiens to Trade
Bolduc is a completely different conversation.
The 23-year-old produced 12 goals and 18 assists for 30 points during his first season with Montreal after being acquired from the St. Louis Blues for Logan Mailloux. He also continued contributing during Montreal’s postseason run.
He is also a former 17th-overall pick who has already demonstrated NHL goal-scoring ability.
That’s exactly why I wouldn’t move Bolduc simply because contract negotiations are taking longer than expected.
Montreal traded a legitimate young defense prospect in Mailloux to acquire him only one year ago. Turning around and trading Bolduc now would only make sense if Hughes were using him to acquire a player who clearly upgrades Montreal’s top six.
My position is simple:
Xhekaj can be traded if the value is right. Bolduc should only be traded if the return makes Montreal substantially better.
Zachary Bolduc Career NHL Stats
| Type | GP | G | A | P | +/- |
|---|---|---|---|---|---|
| Regular Season | 175 | 36 | 39 | 75 | 14 |
| Playoffs | 26 | 3 | 5 | 8 | -4 |
Canadiens Salary-Cap Math Shows Montreal Doesn’t Have to Make a Trade
This is where the financial side becomes particularly important.
PuckPedia currently projects the Montreal Canadiens with $9,783,924 in salary-cap space and a 21-player active roster. Both Xhekaj and Bolduc remain unsigned and therefore don’t yet have 2026-27 cap hits included.
PuckPedia lists Xhekaj’s qualifying offer at $1.3 million and Bolduc’s at $874,125.
Using those qualifying offers purely as a minimum salary-floor illustration:
$9,783,924 – $1,300,000 – $874,125 = $7,609,799
Montreal would still have approximately $7.61 million in projected cap space if both players were signed at those qualifying-offer amounts.
Actual negotiated contracts could, of course, come in significantly higher, particularly Bolduc’s so this is not a contract projection. But it illustrates something important:
Montreal does not appear to need to trade either player simply to solve an immediate salary-cap problem.
If Hughes trades Xhekaj or Bolduc, I believe it should be because he sees an opportunity to make the Canadiens better, not because he needs to escape their contracts.
NHLTradeRumor.com Trade Value Model: Xhekaj vs. Bolduc
Here’s how I would currently value the two players on the NHLTradeRumor.com proprietary Trade Value Index.
The difference between 63 and 76 matters.
Xhekaj could headline a smaller hockey trade or function as a desirable secondary piece in a larger package.
Bolduc is different. If I’m Hughes, I’m treating him as one of the assets that could potentially help Montreal acquire a legitimate top-six difference-maker.
Which Canadiens Player Would I Trade?
If Montreal has to choose between the two, I would be much more comfortable trading Xhekaj.
That isn’t because I don’t value what he brings.
I do.
Every contender eventually encounters playoff series where size, intimidation and physical engagement matter. Xhekaj gives Montreal something opposing players notice immediately.
But players also need roles.
If Montreal’s coaching staff views him as a sixth or seventh defenseman and other organizations view him as a legitimate everyday NHL defenseman, Hughes has to exploit that difference in valuation.
Bolduc is the player I’d be reluctant to move.
At 23, there’s still plenty of development runway left. Thirty points in his first Montreal season wasn’t spectacular, but it was enough to show that he belongs in an NHL lineup.
Giving him away before discovering what his offensive ceiling really is would be poor asset management.
The exception?
If Bolduc becomes part of a package that lands the impact forward Montreal has been seeking, then the conversation changes completely.
That’s how good teams eventually move from collecting assets to competing for championships.
Is a Canadiens Sign-and-Trade Actually Coming?
For now, that’s the unanswered question.
The one development we can confirm as of August 14 is that the situation hasn’t been resolved: PuckPedia still lists both Xhekaj and Bolduc as unsigned RFAs.
That doesn’t prove a trade is coming.
But until those contracts are signed, it gives Canadiens fans, and the rest of the NHL something worth watching.
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