The Montreal Canadiens are not expected to contend for a Stanley Cup next season. They are rebuilding the team and need some time to properly put things together before they can turn themselves into contenders.
That means they are unlikely to be big players in the free agent market. It just doesn’t make sense to spend big on players and rush their way into contention. That just isn’t the best way to do things. Slow and steady wins the rebuilding race and the Canadiens need to take their time.
That doesn’t mean they can’t sign anyone. They just re-signed veteran forward Sean Monahan and that makes a lot of sense.