NHL Trade Rumors: PK Subban Wants $8.5M; Canadiens Deal $5.25 Only

P.K. Subban and the Montreal Canadiens only have a few hours before their arbitration hearing on August 1, but they still have yet to reach a settlement on the player's contract.

In a report by CBS Sports, Subban is allegedly asking for a deal of $8.5 million, but the Canadiens are only offering $5.25 million. Both parties are expected to hammer out a deal before the arbitration hearing, but experts speculate that the value may be closer to what Subban is asking for, considering that he has some kind of advantage.

According to Canada.com, the two parties seem to be eyeing on a long-term deal where Subban will continue to play for the Montreal Canadiens even after he enters the free agent market in 2016. Should an agreement be reached, Subban may become the highest paid NHL defenseman in the history of the team.

At present, there are only six defensemen with a cap hit over $7 million. The highest-paid Habs player is goaltender Carey Price. Price is set to rake in $6.75 in the upcoming season. Subban made $3.75 million in two years, including $2.875 in his second year.

The Habs have an estimated $11.6 million in cap space. Subban is also the only remaining restricted free agent still unsigned and is a major element in the team, so it is expected that the Canadiens will eventually offer him something close to $8.5 million.

Experts agree that the value is ideal, since the defenseman still has a lot to offer in the coming years. Subban is 25 years old and has positioned himself as a valuable part of the Habs. In the 2013-2014 season, he scored 53 points. In the playoffs, he scored 14 points. In his rookie year, Subban scored 14 goals, his career high. In 2013, he also garnered the Norris Trophy after scoring 38 points in 42 games. Subban is also very effective in giving body checks and plays very good defense.

In an article by Cjad, Subban said in an interview, "I'm guaranteed to be in a Habs jersey next season. I mean you talk about obviously arbitration, that puts me in a Habs jersey and obviously people understand that, you know, in terms of long term I've been nothing but adamant on remaining and being a Montreal Canadien."

Should the two sides proceed to arbitration on August 1, they will reach a settlement after the hearing with a definite figure placed.