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Trade Grades: How did the Flames and Golden Knights each do in the Rasmus Andersson trade?
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Photo credit: Sergei Belski-USA TODAY Sports
Liam Mabley
Jan 20, 2026, 11:00 ESTUpdated: Jan 19, 2026, 20:12 EST
We’ve all had some time to process the trade that sent Rasmus Andersson to the Vegas Golden Knights. The long-anticipated deal was conceived on Sunday afternoon and contains a fair amount of things to unpack.
The Flames retained half of Andersson’s $4.55 million contract and shipped him out in exchange for a 2027 first-round pick (top 10 protected), a 2028 second-round pick (conditional), Zach Whitecloud, and Abram Wiebe. Full trade details and conditions can be found here.
Along with the news of Andersson’s departure came a visceral reaction from the fanbase, which was to be expected. With so many suitors at play, the possibilities for a return were endless, and I think just about every follower of the team had their own idea of what Calgary would have to show for their second-longest tenured player.
In the end, Vegas wins the Andersson sweepstakes to nobody’s surprise, and I think both teams made out fairly well in this deal. Let’s talk grades.
Vegas Golden Knights: B+
Rasmus Andersson is the latest on a laundry list of big fish that the Golden Knights have reeled in over the course of their nine-year existence. Their managerial approach has never wavered: do anything and everything possible to improve the team in the present. Few organizations have ever operated as they do, they hold no regard for the notion that championship teams are built on drafting and developing. Instead, they view picks and prospects as mere currency to pry other teams’ home-grown talent away from them.
To put it short, Vegas does what Vegas wants, with no hesitancy, skepticism, or reticence.
Why hang onto future assets when you’ve built such an attractive place to play, and you know that there will always be Rasmus Anderssons, Mitch Marners, Jack Eichels, and Mark Stones out there and ripe for the taking. And while the rest of the league waits for it to catch up to them, the Golden Knights continually throw their hat in the ring of cup contenders.
But down to brass tacks, this is a really good trade for Vegas. They get an absolute game-changer in Rasmus Andersson, a guy who can play heavy minutes in all situations. He can impact the game in so many different ways, and in that sense, is a major upgrade over the guy he’s replacing as part of the deal, Zach Whitecloud.
On that note, the only blemish on the Vegas end of this deal is their loss of Whitecloud, who was a key cog in their defensive structure. In an ideal world, the Golden Knights add Andersson without leveraging any of their current players, but I get the sense that Calgary wanted a player in return in order to stomach the loss of Andersson.
All in all, Vegas turns Whitecloud into Andersson at the cost of a couple of high-quality draft picks and a below average prospect. With Calgary retaining half of his salary, Raz will play at a cap hit of $2.275 million for the remainder of this year, and the Knights will have ample opportunity to extend him, a task that I’m sure they feel confident they’ll achieve.
Calgary Flames: B
Let’s get this straight, the Flames got a strong return on a player that is now a rental. Could they have gotten an even larger package for Andersson at last year’s trade deadline? Maybe, but that’s neither here nor there because a trade didn’t materialize then, and we’re looking at this trade for what it is now.
There was hope for a sign-and-trade scenario with Andersson, and a world where the recipient of his services felt comfortable ponying up more assets knowing there was an extension in place, but that door was shut. You can fault management for backing themselves into a bit of a corner, but despite the limited options they were left with, they made out with a decent package, which earns them a B.
And let’s not forget that in December, it was rumoured that the Flames’ desired return was the equivalent of two first-round picks, and in terms of value, they probably got a little more than that in this deal. They get a first, a second that has an outside chance of becoming a first, a guy in Whitecloud who, if they play their cards right, can fetch a second on the market, and a prospect. A good return in my eyes.
That said, the addition of Whitecloud is a little confusing. I doubt Vegas was very keen on giving him up, so he had to have been a guy that Calgary identified as an important part of the return. Whitecloud is a really solid player, but I’m confused as to why the Flames made a point of acquiring him, considering their situation. They have little hope of making the playoffs, and more importantly, have up-and-coming right-shot defenceman Hunter Brzustewicz and Zayne Parekh, who desperately need NHL ice time in order to develop.
One of the benefits of moving Andersson was supposed to be the room it would create for the youth movement to have an opportunity to grow, the addition of a 29-year-old Whitecloud negates that. There is speculation that Calgary will flip him for future assets at the deadline, but I seriously doubt it, as Vegas would have happily given them a pick or prospect instead of Whitecloud.
Acquiring Whitecloud is evidence of the Flames’ intention to stay competitive this season. I get wanting to send the right message to the locker room, but not when it jeopardizes the development of your most prized prospects, even in the slightest.
All told, Calgary secured a fair return in this deal and managed to get it done in a timely manner.
What grade would you give the Flames on the Andersson trade? Let us know in the comments!

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