Here’s the thing with Zary: he’s really good at hockey. During his four entry-level seasons – he signed early as a late birthday, so he was able to spend a slide year in the AHL – he progressed from an AHL rookie into an NHL regular, and at times he showed that he could be a really exciting, dynamic puck carrier and distributor.

But the frustrating part of Zary’s whole situation is that, compared to other young players in the system – most notably teammate Matt Coronato – it’s not entirely clear what Zary is as an NHLer. And figuring out precisely his ideal NHL role has been stymied by his rotten injury luck: his first pro season (2021-22) was derailed by a broken ankle suffered on a shot block in a prospect camp game, his first full NHL season (2023-24) saw him miss a chunk of the late season with an upper-body injury, and he had two separate scary lower-body injuries in 2024-25.

In 117 NHL games, Zary has 27 goals and 61 points. That’s 0.231 goals per game and 0.521 points per game. For comparison’s sake, Coronato has played 112 NHL games and has 27 goals and 56 points. That’s 0.241 goals per game and 0.500 points per game. They’re both productive offensive players in the NHL, but it’s probably not unfair to say that Coronato’s role with the Flames is way more defined than Zary’s.

And if they’re considering a long-term financial commitment to a player, a team would like to know what type of player they’re committing to. Coronato’s clear role likely contributed to his new, long-term contract this off-season.

Back on July 11’s edition of Flames Talk on Sportsnet 960 The Fan, our pal Pat Steinberg provided a bit of context for the Zary negotiations. He pointed out Zary’s lack of leverage – he’s an RFA with no arbitration rights – and noted some parallels with some other recent Flames negotiations with RFAs, pointing out how Andrew Mangiapane ended up cashing in later on but only after taking a bit less when he didn’t have leverage.

Steinberg also provided a bit of an update on where things potentially stand in the negotiations (at least as of July 11):

“I think we’re probably in a situation where the Flames kind of are in the stance of ‘Here’s what we’re willing to do, here’s our contract, this is what’s on the table,’ and not to say that they’re unwilling to negotiate, I don’t think it’s ‘Hey here’s your [qualifying offer], take it or leave it.’ I don’t think it’s that. But I think they probably have a deal on the table, here’s what we’re willing to do or the ballpark we’re willing to be in… and get back to us when you’re close to signing that or if you have some other ideas or whatever it may be. That’s kind of my guess is where this is right now.”

As noted, Zary does not have a ton of leverage in the current negotiations. He’s a really talented young hockey player. He could end up being a really important part of the Flames for years to come. But right now, coming off a 2024-25 season where he had just atrocious injury luck, he really needs 82 games of consistent, healthy hockey so he can carve out a clear role in the Flames lineup. (This was essentially Steinberg’s argument in the July 11 segment: make sure you’re able to start the upcoming training camp and season on time and have a strong year.)

And as frustrating as it may be, especially given how well he’s performed so far with the Flames, taking a short-term deal and following it up with a strong, injury-free 2025-26 season may be the best path to a long-term deal for Zary.

We’ll see how these negotiations play out. But for now, the waiting game continues…