How the Flames, Panthers fared in Tkachuk-Huberdeau trade

On Friday night, the Calgary Flames traded restricted free-agent winger Matthew Tkachuk and a conditional fourth-round pick in the 2025 draft to the Florida Panthers for winger Jonathan Huberdeau, defenseman MacKenzie Weegar, prospect Cole Schwindt, and a 2025 lottery-protected first-rounder.

Tkachuk subsequently signed an eight-year deal with the Panthers. The contract, which runs through the 2029-30 season, carries a $9.5 million AAV.

Two 100-point players involved in a six-piece swap - damn, how's that for a late-July whopper? OK, let's break down how both teams fared in this trade.

Calgary Flames Eliot J. Schechter / Getty Images

Negotiating is all about power, and Brad Treliving appeared powerless earlier this week. The sharks undoubtedly circled when word leaked that Tkachuk told the Flames general manager that he wouldn't sign a long-term extension in Calgary a mere week after the Flames lost superstar Johnny Gaudreau to the Columbus Blue Jackets via free agency.

According to The Athletic, Tkachuk's preferred destinations included the Panthers, Nashville Predators, Dallas Stars, Vegas Golden Knights, and St. Louis Blues. The return package is typically substantially better if the player is dealt to a place where he's willing to sign long term. So while the market for Tkachuk didn't technically shrink to just five teams, Treliving was in a bind.

A few days later, Treliving emerged with one of the best playmakers in the entire NHL in Huberdeau, a top-pairing blue-liner in Weegar, a first-rounder, and a decent forward prospect. Given the circumstances, it's hard to envision a better return for Tkachuk. Really, this is a fantastic trade for Calgary, and it can be upgraded to home-run status if Huberdeau, 29, and Weegar, 28, end up signing extensions. (Both become unrestricted free agents next summer.)

Treliving delayed an unwelcome rebuild for at least one season by replacing talent with talent. The organization will have a giant chip on its shoulder as it attempts to win the Pacific Division and contend for the Stanley Cup in 2022-23 despite losing two cornerstone pieces within 10 days. The underappreciated Huberdeau, who last year garnered the fifth-most Hart Trophy votes after finishing first in assists (85) and tied for second in points (115), fills a huge chunk of the void left by Gaudreau and Tkachuk departing.

As an aside, don't be surprised if this franchise-altering trade entices Calgary to go hard after UFA Nazem Kadri. The Flames, who currently have $9.3 million in available cap space, according to CapFriendly, would first need to make a move or two, as RFAs Andrew Mangiapane and Oliver Kylington remain unsigned. However, the two-way Kadri seems like a perfect candidate to fill the second-line center spot in coach Darryl Sutter's lineup card.

Joel Auerbach / Getty Images

Practically speaking, Huberdeau should have no issues finding chemistry with Elias Lindholm, the last remaining member of Calgary's vaunted top line. Huberdeau's ex-running mate, Aleksander Barkov, is a Selke Trophy-caliber center like Lindholm, while Lindholm has plenty of experience playing with dynamic, pass-first wingers after years of sharing the ice with Gaudreau.

Weegar is a right-shot defenseman coming off a career year offensively (44 points in 80 games). The 6-foot, 200-pounder is an elite transition player. Although he's prone to making the odd glaring error, his underlying numbers are very strong at both ends of the ice. With Weegar, Rasmus Andersson, Noah Hanifin, Chris Tanev, Nikita Zadorov, and Kylington, Calgary boasts a veteran-laden defense corps that's equal parts brute force and legitimate skill.

The 2025 first-rounder is the cherry on top. The Flames, who also have their own firsts in 2023, 2024, and 2025, can use this draft capital to reel in another NHL star or sit tight and see how everything unfolds in the new era.

Grade: A

Florida Panthers Bruce Bennett / Getty Images

Tkachuk's a unicorn. He's a top offensive producer. He's responsible defensively. He's captain material. And he annoys opponents to no end.

So, of course, Panthers GM Bill Zito put in a call to explore a trade for the 24-year-old. The fact that Zito actually acquired such a unique player and locked him up through his prime is a win for Florida, a franchise with a small fan base and only one playoff series win since 1996. In a vacuum, I like this trade for the Panthers. It's splashy, and Tkachuk's contract is fair for both sides.

But, man, did Zito give up a ton for Tkachuk and a conditional fourth-rounder. Trading Weegar immediately makes the Panthers' blue line worse, and sending Calgary a 2025 first-rounder means Florida doesn't have an opening-round pick until 2026. (The club sacrificed its 2023 and 2024 firsts at the 2022 trade deadline for Claude Giroux and Ben Chiarot, both of whom are now gone.)

If the trade had been Tkachuk for Huberdeau, one for one, it would have been a no-brainer considering Huberdeau's contract status and the team's lack of success in the Huberdeau-Barkov-Aaron Ekblad era. But now, the Panthers have bid farewell to Huberdeau, Weegar, Giroux, Chiarot, and Mason Marchment this summer while gaining Tkachuk and a couple of depth pieces. For a 122-point team trying to win a Cup, that's too much talent out the door.

Icon Sportswire / Getty Images

There's also the long game to consider here. If the Panthers are trying to be more methodical after going all-in last season, losing unceremoniously in the second round, and then switching coaches, this trade makes some sense. Huberdeau and Weegar were presumably not re-signing, so why not bring in a young star to mix up the group dynamics on and off the ice?

Tkachuk joins Barkov ($10 million AAV), goalie Sergei Bobrovsky ($10M), and Ekblad ($7.5M) as handsomely paid Panthers signed through at least 2025. Forwards Sam Reinhart, Sam Bennett, Carter Verhaeghe, and Anton Lundell, defenseman Gustav Forsling, and goalie Spencer Knight are all quality second-tier players under the age of 27. Even after the roster shakeup, this team can still earn a top-three spot in the Atlantic Division.

As for Tkachuk himself, well, there's little to dislike about this entire situation. Sure, the home-rink atmosphere isn't the same in Sunrise as in Calgary. But otherwise, he's filled his bank account with $76 million, escaped the snow, and joined a competitive team. Once Gaudreau left Calgary, Tkachuk's departure seemed inevitable, and he's the biggest winner here.

Grade: B

John Matisz is theScore's senior NHL writer. Follow John on Twitter (@MatiszJohn) or contact him via email (john.matisz@thescore.com).

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