The Toronto native is in the final-year of a two-year contract, which pays him $3.75 million this season, and he's expected to earn a significant raise -- roughly double his salary -- on his next deal.
Contract talks between the Habs and Subban's camp haven't started yet, Mark Guy, one of Subban's agents, told TFP, but the belief is the Canadiens are going to reach out in the near future.
Subban is likely to sign a long-term deal, either seven or the maximum eight years under the currently CBA, and could see his salary fall between $7.5 million to $8 million per season.
Only four defensemen in the NHL have a salary cap hit of $7 million or higher -- Drew Doughty ($7 million), Brian Campbell ($7,142,875), Ryan Suter ($7,538,462) and Shea Weber ($7,857,143).
Subban's raise will likely put him ahead of previous winners of the Norris Trophy, as Erik Karlsson's extension is worth $6.5 million per season, Duncan Keith's cap hit is just over $5.53 million, Zdeno Chara's cap hit is just over $6.9 million, and Nicklas Lidstrom since retired.
Canadiens GM Marc Bergevin doesn't tip his hat when it comes to potential moves, and while it's not urgent to get a deal done now, it wouldn't be a surprise if the Habs and Subban come to terms on a new deal during the season.