The Montreal Canadiens are reportedly open to trading defenseman Mike Matheson to clear cap space, according to NHL insider Frank Seravalli. With only one year remaining on his current contract, the 30-year-old Matheson's future with the Canadiens hinges on whether both sides can agree on financial terms for an extension.

General Manager Kent Hughes is aiming to improve the roster while also managing the team's salary cap situation. Currently, the Canadiens have a negative cap space of approximately $-5.42 million. The team also has a $1.75 million bonus overage penalty. Trading Matheson, who carries a $4.875 million cap hit, could alleviate some of the cap pressure.

Several factors contribute to the Canadiens' willingness to consider trading Matheson. The emergence of young defensemen like Lane Hutson and Kaiden Guhle could make Matheson expendable. Rather than reducing Matheson's role to a third-pairing position, the Canadiens might prefer to capitalize on his trade value while it remains high.

Matheson has expressed his desire to remain in Montreal and recognizes his important role on the team. However, if his contract demands don't align with the Canadiens' internal cap planning, a trade could be the result. The Canadiens have reportedly presented Matheson with an offer, giving him the choice to either re-sign at a discount or be traded.

Trading Matheson could also provide the Canadiens with valuable assets to address other needs, such as acquiring a top-six forward. The team has been actively seeking a player who can play on the top-six, preferably a center. Moving Matheson could potentially bring back the assets required to fill that need.

Several teams have expressed interest in Matheson, including the Edmonton Oilers. The Oilers reportedly value Matheson's mobility and puck-carrying abilities, qualities they believe would complement their offensive stars Connor McDavid and Leon Draisaitl.

The decision to trade Matheson will depend on several factors, including his contract demands, the Canadiens' cap situation, the emergence of young players, and the potential return in a trade. If no agreement is reached during the season, the Canadiens could also opt to re-sign Matheson next summer.