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Meet the Buyers: The Golden Knights may not be done ahead of the trade deadline
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Photo credit: Sergei Belski-Imagn Images
Ryley Delaney
Feb 20, 2026, 12:00 ESTUpdated: Feb 19, 2026, 22:35 EST
One of the biggest trades so far this season occurred between the Calgary Flames and Vegas Golden Knights.
In January, the Flames sent right-shot defenceman Rasmus Andersson (at 50% retention) to the 2023 Stanley Cup champions for prospect Abram Wiebe, Zach Whitecloud, a top-10 protected 2027 first, and a conditional 2028 second that could become their 2028 first if the Golden Knights win the Cup.
At the time, it seemed to be a subpar result for one of the best defencemen on the market, but shortly before the Olympic roster freeze, the New York Rangers gave up Artemi Panarin for a prospect, a 2026 third, and a 2028 fourth, so the Flames kind of came out like gangbusters.
It stands to reason that the Flames aren’t done either, as they have the fourth-fewest points in the league with a ton of veterans who could be traded. It seems like Whitecloud could be traded back to the Golden Knights, as unlikely as that is. Additionally, Nazem Kadri, Blake Coleman, MacKenzie Weegar, and Ryan Lomberg could find themselves on the move.
In this edition of Meet the Buyers, let’s take a look at the Golden Knights’ cap situation, as well as what they have to offer.

Golden Knights’ needs and cap situation

As of the Olympic break, the Golden Knights have a little over $4.653 million in cap space, but that is only because of a few players on long-term injured reserve. Not counting Alex Pietriangelo and his $8.8 million cap hit because he’s on season-ending LTIR, the Golden Knights have both William Karlsson and Brayden McNabb on LTIR, which would put them over the cap if both players are activated.
With the addition of Andersson, the Vegas Golden Knights’ defence is essentially set in stone. Shea Theodore is a strong top pairing defender, Andersson has been reunited with Noah Hanifin, and veteran shutdown defenceman Ben Hutton plays alongside youngster Kaedan Korczak. Weegar doesn’t make sense, both in terms of need and cap space, while they just traded Whitecloud about a month ago. McNabb is expected back after the Olympics as well.
If they do make an upgrade, it’d likely be for their top nine. Karlsson’s status is unclear, so they could look to target a top nine winger, such as Coleman. This season, the left winger from Texas has 13 goals and 21 points in 44 games. He isn’t the 30-goal scorer he was two seasons ago, but Coleman is a two-time Stanley Cup champion, something a contender would love.
Additionally, there is a way to get Coleman’s salary to work out. Karlsson has a cap hit of $5.9 million, and if he doesn’t return, Coleman and his cap hit of $4.9 million could be an easy replacement. He’d be even cheaper with retention, as Coleman’s contract ends after the 2026-27 season. As for Kadri, there isn’t much of a fit there, not only because the Golden Knights don’t have the cap room for him, but they’re also pretty strong down the middle.
Let’s take a look at what the Knights have to offer.

What the Golden Knights have to offer

Simply put, the Golden Knights don’t have a lot to offer the Flames. Their 2026 first belongs to the Flames, as does their 2027 first and potentially even their 2028 first. They have their 2026 and 2027 second-rounders, but is that enough to fetch Coleman?
You’d think they’d have to add a prospect to get that done, but the Golden Knights farm system is on the weak side, according to Daily Faceoff. Trevor Connelly is their best prospect, while Mathieu Cataford, Matyas Sapovaliv, and Jakob Ihs-Wozniak are some of their other notable forward prospects.
They have two interesting young players on their roster, Braeden Bowman and Kaedan Korczak, but it’s hard to see either of them being traded as it would just create a new hole on their roster.
So in the improbable case of the Golden Knights and Flames making a second trade ahead of Mar. 6’s trade deadline, it’d have to be a second-rounder and a prospect.

Ryley Delaney is a Nation Network writer for FlamesNation, Oilersnation, and Blue Jays Nation. She can be followed on Twitter @Ryley__Delaney.

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