The 2025 NHL Draft 'finalized' four Calgary Flames trades made over the last three seasons

The 2025 NHL Draft was another good one for the Flames as they continue on with their roster reset. We now have ‘finalized’ four deals made by the Calgary Flames over the last three seasons. In other words, we can now give ‘draft pick’ a face and a name.

Let’s look at how the trades of Matthew Tkachuk, Sean Monahan, Jacob Markstrom, and Andrew Mangiapane have branched out, and what those returns are looking like now. Spoiler alert, you might not like the start, but the end doesn’t look too bad.

Matthew Tkachuk blockbuster trade

One of the biggest NHL blockbusters in recent memory. After telling the Flames he wouldn’t sign with them long-term, the team dealt Matthew Tkachuk—signed to an eight-year, $9.5M AAV extension—and a 2025 fourth-round draft pick to the Florida Panthers in exchange for MacKenzie Weegar, Jonathan Huberdeau, Cole Schwindt, and Florida’s 2025 1st round draft pick.

Let’s get this out of the way first. Matthew Tkachuk quickly adapted to the Panthers’ brand and has scored 254 points in 211 regular season games. He also has 69 points in 67 playoff games. That’s right, the Panthers have played 67 playoff games in three seasons since acquiring Matthew Tkachuk. That is one less than the Flames have played since the 2005 lockout. Tkachuk lost in the Stanley Cup final in his first year as a Panther in 2023, but went on to win back-to-back Stanley Cups in 2024 and 2025. Not too shabby. The Panthers used CGY’s 2025 fourth-rounder to select Danish winger Mads Kongsbak Klyvo. Okay, enough about the Panthers’ side of this deal.

Both MacKenzie Weegar and Jonathan Huberdeau were in the last year of their contracts when they were acquired by the Flames. Brad Treliving wasted no time signing Huberdeau to an extension 10 days after the trade was made. Huberdeau locked in an eight-year, $10.5M AAV deal coming off a 115-point season with the Panthers.

Let’s just say Huberdeau hasn’t had the same effect in Calgary as Tkachuk has had in Florida. Huberdeau has 169 points in 241 regular season games. He’s struggled for large parts of his Flames tenure, even being benched for an entire period. Weegar took a little bit longer to sign, but locked in an eight-year, $6.25M AAV deal right before the 2022–23 season began. Weegar has been the Flames’ best defenceman in all three seasons and has 130 points in 244 regular season games.

Cole Schwindt played two seasons with the Calgary Wranglers and appeared in four games with the Flames. He was scooped up off waivers by the Vegas Golden Knights during training camp for the 2024–25 season. He appeared in 42 games with the Knights last season.

Florida’s 2025 first-rounder ended up 32nd overall with another Stanley Cup win. The Flames used the 32nd selection on LW/C Cullen Potter out of Arizona State in the NCAA.

Trade tree as of now: Matthew Tkachuk and Mads Kongsbak Klyvo in exchange for MacKenzie Weegar, Jonathan Huberdeau, and Cullen Potter.

Sean Monahan salary dump to Montreal

To make cap room for the signing of Nazem Kadri, the Flames dealt Sean Monahan and a future first-rounder—with a lot of conditions—to the Montreal Canadiens in exchange for future considerations. This was a full-on cap dump of Monahan’s contract, which had one season remaining at an AAV of $6.375M.

After the conditions, the Flames ended up sending the 16th overall pick in the 2025 NHL Draft to the Canadiens. The Canadiens used this pick, along with their own pick, 17th overall, and Emil Heineman, previously acquired from the Flames in the Tyler Toffoli trade, to the New York Islanders in exchange for Noah Dobson. The Canadiens signed Dobson to an eight-year, $9.5M AAV deal.

Monahan had an injury-riddled first season with Montreal, with six goals and 17 points in 25 games. He did extend with the Canadiens on a bonus-laden deal, and contributed 13 goals and 35 points in 49 games. Monahan was traded to the Winnipeg Jets in exchange for Winnipeg’s 2024 first-rounder. The Habs packaged Winnipeg’s first-rounder, 26th overall, along with 57th and 198th overall, to trade up with the Los Angeles Kings for 21st overall. They used the 21st selection to pick Michael Hage.

So, the Habs used both assets in the Sean Monahan cap dump trade to add a premier defenceman and a really good centre prospect. While the Flames got nothing in this deal, they did use the cap space to sign Nazem Kadri.

Jacob Markstrom dealt to the Devils

After a drama-filled six months, the Flames moved Jacob Markstrom—with 31.25% salary retention, bringing his AAV to $4.125M—to the New Jersey Devils in exchange for their 2025 first-round pick and defenceman Kevin Bahl.

Markstrom had a really strong start to his Devils season, but it did tail off in later months due to injury. He finished with a 26–16–6 record, 0.900 SV%, and a 2.50 GAA in 49 games. Markstrom was good on a Devils team that didn’t give much of a fight in the playoffs. He posted a 1–4–0 record with a 0.911 SV% and a 2.78 GAA. The 35-year-old goaltender has one more season under contract with the Devils.

Kevin Bahl arrived in Calgary as a relatively unknown piece. He had parts of four seasons under his belt in the NHL up to that point, becoming a full-time NHLer in the 2023–24 season. Bahl quickly changed the narrative after being paired with Rasmus Andersson in training camp. The two remained a pairing for the entire season. Bahl set career highs in goals, assists, and points. He just recently locked in a six-year, $5.35M AAV extension to remain a Flame. He should be a stabilizing presence next to one of Calgary’s young offensive defencemen in the top-four.

New Jersey’s first-round pick ended up at 18th overall with their early playoff exit. With the 18th overall selection, the Flames drafted centre Cole Reschny.

Trade tree as of now: Jacob Markstrom for Kevin Bahl and Cole Reschny.

Andrew Mangiapane sent to Washington

Last summer, the Flames dealt Andrew Mangiapane to the Washington Capitals in exchange for Colorado’s 2025 second-rounder. The Capitals acquired this pick when they dealt Lars Eller to the Avalanche at the 2023 NHL Trade Deadline. Eller had three goals and ten points in 24 regular season games and zero points in seven playoff games with the Colorado Avalanche before signing with the Pittsburgh Penguins as a free agent.

Mangiapane played one season with the Capitals, scoring 14 goals and 28 points in 81 regular season games. In ten playoff games, Mangiapane had one goal and one assist. Mangiapane recently signed with the Edmonton Oilers. The Flames used Colorado’s 2025 second-rounder, 54th overall, to select Theo Stockselius.

Trade tree as of now: Andrew Mangiapane for Theo Stockselius.

Bonus: Morgan Frost and Joel Farabee acquired

This trade is almost completed with the exception of a seventh-rounder, so I’ll feature this as well.

Midway through last season, the Flames added a pair of youngish forwards in Morgan Frost and Joel Farabee from the Philadelphia Flyers in exchange for Andrei Kuzmenko, Jakob Pelletier, CGY’s 2025 second-rounder, and CGY’s 2028 seventh-rounder.

The Flyers quickly dealt Kuzmenko to the LA Kings for a 2027 third-round draft pick. The team held onto Jakob Pelletier for the remainder of the 2024–25 season, but did not qualify him this summer. Pelletier signed a three-year, $775K AAV deal with the Tampa Bay Lightning. The Flyers used Calgary’s 2025 second-rounder to select RW Shane Vansaghi out of Michigan State in the NCAA.

Trade tree as of now: Morgan Frost and Joel Farabee for Shane Vansaghi, a 2027 third-round pick, and a 2028 seventh-round pick.