After four seasons, the Jacob Markstrom era is over for the Calgary Flames. Per multiple reports, the Flames have traded the netminder to the New Jersey Devils in exchange for New Jersey’s 2025 first-round pick and defenceman Kevin Bahl.
TSN’s Travis Yost was the first to report the news.
Markstrom has two seasons remaining on his deal with a $6 million cap hit and a full no-move clause. The Flames will be retaining 31.25% of his cap hit ($1.875 million) for the remaining two seasons.
A product of Gälve, Sweden, the 34-year-old Markstrom joined the Flames as a free agent during the 2020 off-season after several seasons with the Vancouver Canucks.
His tenure with the Flames has featured some highs and lows:
  • He was concussed in a collision with Vancouver’s Tanner Pearson while racing out of his net to play a puck in 2020-21 and struggled to get his rhythm back when he returned.
  • He was the NHL’s second-best goaltender in 2021-22, bouncing back from his previous challenges and finishing second in Vezina Trophy balloting.
  • He again had consistency challenges in 2022-23 amidst the team’s major lineup changes.
  • He bounced back (again) and was one of the league’s better goaltenders in 2023-24 in terms of Goals Saved Above Expected.
Markstrom played 213 games for the Flames, posting a 105-78-25 record with a 2.63 goals against average, .907 save percentage and 15 shutouts. Via Evolving Hockey, Markstrom posted a positive Goals Saved Above expected in all four seasons with the Flames.
Bahl is a 23-year-old left shot defenceman. He’s signed for 2024-25 with a $1.05 million cap hit. He was originally a second-round selection of the Arizona Coyotes in 2018 and was traded to New Jersey in the Taylor Hall trade. He has 25 points in 148 NHL games thus far, but he’s 6’6″ and 215 pounds. He projects as a shutdown defender based on everything we’ve seen from him in pro.
As first reported by Pierre LeBrun, New Jersey’s 2025 first-rounder is top 10 protected. (If it’s in the top 10, the pick shifts to 2026.)