On Sunday evening, the Toronto Maple Leafs lost to the Florida Panthers in the second round of the 2025 Stanley Cup playoffs. Had the Panthers been eliminated by Toronto, the placement of all of the Calgary Flames’ 2025 draft selections would have been locked in.

Now, with the Panthers having advanced to be among the NHL’s final four teams, things are a bit in flux. The Flames are set to receive the Panthers’ first-round selection in this year’s draft, which completes the July 2022 trade involving Matthew Tkachuk. However, because Toronto lost to Florida, the pick the Flames receive could be in one of three slots.

Option 1: 29th overall – if Florida loses to Carolina in the Eastern Conference Final

Florida had the fewest regular season points of the four teams that remain active. So if they lose in the Conference Final round, they’ll be given the fourth-from-last draft slot in the first round, 29th overall.

Option 2: 31st overall – if Florida beats Carolina but loses in the Stanley Cup Final

The Cup finalist gets the second-from-last draft slot in the first round.

Option 3: 32nd overall – if Florida wins the Stanley Cup

The Cup winner gets the last draft slot in the first round.

The picks the Flames own in the 2025 NHL Draft

• 1st round, 18th overall [1] (from New Jersey)
• 1st round, 29th overall [2][tentative] (from Florida)
• 2nd round, 57th overall [3] (from Colorado, via Washington)
• 3rd round, 80th overall
• 5th round, 144th overall
• 6th round, 176th overall
• 7th round, 2o8th overall

Note 1: The Flames received this pick from New Jersey to complete a June 2024 trade that sent Jacob Markstrom to the Devils in exchange for Kevin Bahl and this pick.

Note 2: The Flames received this pick from Florida to complete a July 2022 trade that sent Matthew Tkachuk and a 2025 fourth-round pick (see below) to the Panthers in exchange for Jonathan Huberdeau, MacKenzie Weegar, Cole Schwindt and this pick. [The slotting of this pick has yet to be solidified; it’ll be 29th, 31st or 32nd overall.]

Note 3: The Flames received this pick from Washington as part of a June 2024 trade that sent Andrew Mangiapane to Washington in exchange for this pick. (The Capitals had previously acquired this pick from Colorado in March 2023 in exchange for Lars Eller.)

The picks the Flames traded in the 2025 NHL Draft

• 1st round, 16th overall [4] (to Montreal)
• 2nd round, 48th overall [5] (to Philadelphia)
• 4th round, 112th overall (to Florida)

Note 4: Montreal received this pick from the Flames as part of an August 2022 trade that sent Sean Monahan and this pick to the Canadiens in exchange for future considerations.

Note 5: Philadelphia received this pick from the Flames as part of a January 2025 trade that sent Andrei Kuzmenko, Jakob Pelletier, this pick and a 2028 seventh-round pick to the Flyers in exchange for Joel Farabee and Morgan Frost.

The 2025 NHL Draft takes place June 27 & 28 from Los Angeles, CA. We’ll have oodles of preview coverage of the 2025 NHL Draft in the coming weeks.