The Calgary Flames may have done most of their heavy lifting this offseason, but don’t mistake the silence for inactivity.
General manager Craig Conroy isn’t finished listening.
After reshaping much of Calgary’s roster over the past several months, the Flames remain one of the NHL’s most intriguing teams to watch on the trade market. According to David Pagnotta, rival clubs continue to check in regularly, with center Morgan Frost and defenseman Zach Whitecloud among the names drawing the most interest.
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“Morgan Frost’s name still out there. They have others they’re willing to listen on. There are teams interested in Whitecloud still, and so on and so on. So this is going to be an interesting summer.”
For Conroy, there’s little incentive to force another move.
Calgary has already transformed its future by dealing Rasmus Andersson to the Vegas Golden Knights, MacKenzie Weegar to the Utah Mammoth, Nazem Kadri to the Colorado Avalanche, and longtime leader Blake Coleman elsewhere. Those trades left the organization with an enviable stockpile of draft capital, including 30 selections over the coming years and two first-round picks in each of the next three drafts.
As The Hockey News previously reported, that puts the Flames squarely in the driver’s seat. Conroy can afford to be patient, wait for the market to develop, and only make another move if the return genuinely strengthens Calgary’s long-term outlook.
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Frost has become one of the more logical trade candidates on Calgary’s roster.
The 27-year-old is entering the final year of his contract after producing a career-best 22 goals and 43 points last season. Centers are always in demand around the league, and a productive middle-six forward on an expiring deal naturally attracts attention.
Earlier this summer, Frost’s name also surfaced among Avalanche fans as a potential trade target if the club had been unable to reacquire Kadri. Once Kadri returned to Denver, however, that speculation quickly disappeared.
Acquired from the Philadelphia Flyers alongside Joel Farabee during the 2024-25 season, Frost has settled into Calgary’s middle six while quietly raising his value around the league.
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Zach Whitecloud has barely unpacked in Calgary, yet trade speculation has followed him ever since he arrived in the Andersson deal.
The 29-year-old right-shot defenseman checks a lot of boxes for playoff contenders. He plays a physical, reliable game, can comfortably handle top-four minutes, owns a Stanley Cup ring from Vegas’ 2023 championship run, and carries an affordable $2.75 million cap hit through the 2027-28 season.
According to The Win Column, the Anaheim Ducks remain one of the teams showing significant interest as they continue searching for help on the right side of their blue line following the departures of John Carlson, Jacob Trouba, and Radko Gudas.
That’s exactly why Calgary has no reason to rush. Whitecloud is cost-controlled, experienced, and fills a premium position. Unless another club presents an offer that clearly outweighs his value, the Flames can comfortably keep him in the lineup.
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Jonathan Huberdeau’s name has occasionally surfaced in trade conversations this offseason, but that’s largely speculation more than anything grounded in reality.
The veteran winger carries a $10.5 million cap hit, is coming off major surgery, and still has significant term remaining on his contract. Simply put, this isn’t the time to expect Calgary to move him. Finding a team willing—and able—to absorb that contract under those circumstances would be extraordinarily difficult, making a trade highly unrealistic at this stage.
With the free-agent market beginning to dry up and more teams turning toward trades to address roster needs, Calgary’s phone is likely to keep ringing throughout the summer.
The difference is that Conroy doesn’t have to answer with a deal.
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Armed with one of the NHL’s deepest collections of draft assets and no pressure to shed salary, the Flames can continue listening while holding firm on their asking prices. If another team gets desperate, Calgary is perfectly positioned to capitalize. If not, there’s little downside to standing pat until the right opportunity presents itself.
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