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Flames trade rumours: What could a Rasmus Andersson trade with the Toronto Maple Leafs look like?
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Photo credit: Stephen R. Sylvanie-USA TODAY Sports
Ryan Pike
Jan 18, 2026, 11:45 ESTUpdated: Jan 18, 2026, 11:44 EST
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Folks, throughout Calgary’s history there’s been a certain amount of eye-rolling when it comes to the city of Toronto and some of their sports teams. Sure, some folks in town went absolutely gaga for the recent lengthy playoff runs for the Toronto Raptors and the Toronto Blue Jays.
But some folks, for many good reasons, just do not want to hear about Toronto.
So with that in mind, as the rubber is seemingly hitting the road regarding a potential Rasmus Andersson trade, let’s have a conversation about the Toronto Maple Leafs and whether there’s a fit to be had between the Flames and the Maple Leafs.
Before we delve in, there are some reasons to be skeptical that these two clubs could come together on an Andersson trade.
  • History: Some of the least-loved trades in Flames franchise history have been with Toronto. If you mention Doug Gilmour or Dion Phaneuf’s exits from Calgary with a long-time Flames fan, be prepared for their face to redden and a rant to follow. Trades with the Maple Leafs have rarely panned out for the Flames.
  • The Treliving Factor: The Maple Leafs’ current general manager, Brad Treliving, was previously with the Flames for the better part of a decade. He built up a pretty good team, then his house of cards collapsed near the end of his tenure, and his exit from the club upon the expiry of his contract may have left some hard feelings. The Flames may not be in a hurry to help improve the Maple Leafs.
  • An Asset Deficit: So, remember when Treliving was with the Flames, and he tried to load up the club quickly by trading away high draft picks and prospects? Well, he’s done it again in Toronto. They have no first-round picks in either of the next two drafts, and they have just one pick in the first three rounds of the next two drafts.
  • Cap Challenges: Per PuckPedia, the Maple Leafs currently have just under $3.4 million in cap space – they’re operating using long-term injury relief cap space. It could be challenging for them to fit Andersson in, especially if they get healthy at any point.
But on Sportsnet’s Saturday Headlines (on Saturday), Elliotte Friedman noted “I think Toronto’s been around there” regarding Andersson, so let’s try to figure out what might move the needle for the Flames.
Let’s deal with the salary cap issue first. Right now, the buzz is that Chris Tanev could require season-ending surgery. If his regular season is indeed over, he can be placed on season-ending long-term injury reserve and, boom, his $4.5 million of cap space is opened up, which could facilitate adding Andersson. The mechanics would be a bit cumbersome, but it’s feasible.
So would the Leafs have the assets to convince the Flames to move Andersson? Maybe.
The Leafs don’t have a first-rounder in 2026 or 2027. Would the Flames want a first-rounder in 2028 instead? Sure. They have multiple picks in 2026 already, and having a first-rounder in the future would give them flexibility in terms of how they might want to use that asset.
In terms of prospects, the Leafs system is pretty lean. But we’d highlight three young players that could be appealing in terms of being younger, filling gaps within the Flames system in positions of need, and being players that the Flames scouting staff might be familiar with:
  • Right shot centre Miroslav Holinka, a 2024 fifth-round pick currently playing with the Edmonton Oil Kings and scoring at over a point-per-game pace.
  • Left shot centre Tyler Hopkins, a 2025 third-round pick who was teammates with Flames prospect Jacob Battaglia with Kingston until they both left that club recently – Hopkins was traded to Guelph, Battaglia was traded to Flint.
  • Left shot defenceman Noah Chadwick, a 2023 sixth-round pick who played with the WHL’s Lethbridge Hurricanes and has since moved onto the AHL’s Toronto Marlies. He’s got size (6’4″, 208 pounds) and has started to translate his WHL offensive production to the AHL.
If the Leafs want Andersson as a rental player, I’m not sure it’s much a conversation without a willingness to part with their 2028 first-round pick and two of the three players we highlighted above. If there’s a contract extension involved, it probably costs something more significant – if I’m the Flames, I’m asking for a first-round pick and Easton Cowan – and I’m not sure if the Leafs have a willingness to completely hollow out their system of higher-end prospects.
But hey, we’ll see what happens.
What do you think of our proposed Flames/Maple Leafs swap? Let us know in the comments!
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