Craig Conroy has been one of the busiest general managers in the NHL since replacing Brad Treliving in 2023. It’s wild to see the high number of quality NHL players that have been moved out of the organization. Elias Lindholm, Tyler Toffoli, Nazem Kadri, Andrew Mangiapane, Blake Coleman, Noah Hanifin, Chris Tanev, Nikita Zadorov, Rasmus Andersson, MacKenzie Weegar, Jacob Markstrom… The list goes on and on.

Heading into the 2026-27 season, things are very quiet around the Saddledome on the trade front. There aren’t any big names who are pending UFAs on the Flames roster like there have been in years past. Morgan Frost is a UFA but I don’t know if I would put him in the same category as the players listed above.

Despite there being limited discussions about trades this season, it’s important for Conroy to continue to move out veteran players in exchange for draft picks. This is an organization that is still in the beginning stages of a rebuild. They need to continue to add draft picks to their arsenal to use at the draft or to use in a trade for a young player with upside like Simon Nemec.

Moving out some bodies also opens up spots in the lineup for the likes of Aydar Suniev, Brennan Othmann, Hunter Brzustewicz, and eventually Cole Reschny, Ethan Wyttenbach, Cullen Potter, and Carson Carels.

Now, the quality of players available on the trade market are not the same as years past in Calgary, but Conroy and the Flames still have a few guys that can fetch a significant return.

Frost is the biggest name available when it comes to the forward group. Middle six centres that can win faceoffs and put up over a half a point per game are valuable on the trade market. The Maple Leafs traded Nic Roy last season for first and fifth round picks. The Flames should be able to get something similar if Frost can get off to a good start.

Joel Farabee could be a valuable addition to a contender who is looking for a solid two-way winger that can play on both side of special teams.

Ryan Strome can be a reliable fourth line centre for a playoff team that’s looking for some depth.

Then you have the group of Connor Zary, Yegor Sharangovich, Martin Pospisil, Maxim Tsyplakov, and Adam Klapka. Conroy should consider moving a couple of these players if he can get a mid-round draft pick.

Where things get interesting is on the back end, and it starts with Zach Whitecloud. Trading Whitecloud is a no brainer if you’re looking at things from an asset management perspective. He has two years remaining on his contract making $2.75 million. A top four, right shot defender on that contract who also brings leadership intangibles to the table will be an incredibly valuable player. It would be tough to say goodbye to a high quality human like Whitecloud, but it might be the best move for the long term future of the Flames.

Jake Middleton is in a similar situation as Whitecloud. He is a big, tough, solid defensive defenseman who brings a lot of intangibles to the table. He has three years remaining on his contract making $4.35 million.

Get whatever you can for Brayden Pachal and Joel Hanley.

Finally there is Devin Cooley. It’s likely an unpopular opinion to include him in trade discussions but moving Cooley while he has two years remaining on his contract – this season and the next – would be the smart thing to do if you’re looking to maximize his value.

Asset management still needs to be a priority for Conroy and the Calgary Flames despite. They’ve done a great job of trading veteran players over the last three years and that needs to continue as the rebuild rolls on.

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