Monahan was traded from the Canadiens to the Jets a few weeks before this season's trade deadline in return of a first round pick and a conditional third round pick, which the Habs won't get because the Jets lost in the first round of the playoffs.
The veteran had a great end of the season with the Jets, tallying 24 points in 34 games since his move to Winnipeg. Unfortunately, he couldn't keep the same level in the playoffs. On the ice, it looked like it was all going too fast for him. In the five games against the Colorado Avalanche, he only managed to score one assist.
In an interview, he talked about what he wants to do when he becomes a free agent and how he liked playing with the Jets. He revealed that he wants to be on a winner team who'll compete for the Stanley Cup and that he considers the Jets to be such a team:
This pretty much sums it up for Monahan's potential return in Montreal. The Habs likely won't be a top team as soon as next season, therefore he'll likely seek to join another market, or even stay in Winnipeg.