In a surprise move on Tuesday, the Canadiens' top prospect, Ivan Demidov, terminated his contract with SKA St. Petersburg of the KHL before signing with Montreal, the team announced Tuesday.

The 19-year-old forward signed a three-year, entry-level contract with the Canadiens, who are holding onto the second wild-card spot in the Eastern Conference, which would mark the team's first trip to the playoffs since their surprise run to the Stanley Cup Final during the 2021 playoffs in the bubble. Montreal has five games remaining in the regular season.

Montreal selected the forward with the No. 5 pick of the 2024 NHL draft. In a statement released by SKA, the team called it a "joint decision" to terminate the contract but said his KHL rights would remain with the team.

"He will return to Saint Petersburg if he doesn't gain a foothold in the NHL," SKA's statement said. Demidov's contract was set to expire on May 31, 2025, which is deep in the NHL playoffs.

Demidov scored 19 goals and 49 points in 65 regular season games to lead SKA this season and is considered one of the most talented prospects not playing in the NHL currently. The 19-year-old thrived in one of the best leagues in the world, leading his team in playoff scoring, with five points in six games before being eliminated by Dynamo Moscow. Although SKA St. Petersburg was eliminated, the team could have sent Demidov to their affiliates in the lower leagues, the MHL or VHL, for the remainder of the playoffs.

Demidov was considered one of the most talented players in the 2024 draft but slipped to No. 5 because of some team's fears over when he might be available to come to North America.

In December, the Canadiens sent a contingent of their top brass -- including GM Kent Hughes, adviser Vincent Lecavaleir and director of amateur scouting Nick Brobov -- to visit Demidov in St. Petersburg and spend time with their top prospect. It was believed to be one of the first times that NHL executives entered Russia for scouting purposes since Russia's invasion of Ukraine in 2022.