According to emerging reports, the Flames have traded Daymond Langkow to the Phoenix Coyotes.
We don’t know the return yet, but failing another very good ES player coming back the other way, the deal makes the Flames worse. Langkow stood as Calgary’s best even strength centerman and was a guy who drove scoring chance differentials and possession despite falling output the last few years. Matt Fenwick of the Battle of Alberta blog once called Langkow "instant chemistry" – he made whomever he played with better.
More analysis to come when the particulars are sorted.
EDIT – Lee Stempniak has been confirmed as the return. His cap hit is $1.9M this year and is only for one season.