On July 22, 2022, a trade between the Florida Panthers and the Calgary Flames helped change the landscape of the NHL.
The Panthers traded star forward Jonathan Huberdeau, defenceman Mackenzie Weegar, prospect Cole Schwindt, and a conditional first-round pick in the 2025 NHL to the Flames in exchange for superstar forward Matthew Tkachuk.
Tkachuk had wrapped up a three-year, $21 million contract with Calgary and was a restricted free agent. He was coming off a career season, recording 42 goals and 104 points in 82 games, leading the Flames to a Pacific Division title.
However, in the days before the trade it was reported Tkachuk told Calgary’s front office that hedidn’t intend to sign a long-term deal with the Flames, leading the team to offer him up in a trade.
The Flames had already lost star forward Johnny Gaudreau earlier that summer to the Columbus Blue Jackets in free agency and needed to get a good package in order to remain relevant in the Western Conference.
The package they got from the Panthers was thought to be a king’s ransom, assuming they could retain everyone. Huberdeau and Weegar were both on the final season of their contracts and scheduled to become unrestricted free agents at the end of the 2022-23 campaign.
Huberdeau had spent his entire career 10-season career up to that point in Florida and was fresh off a career season where he led the team with 30 goals and 115 points and setting a new NHL record for the most assists in a season by a left winger with 85.
After Huberdeau navigated the emotions of the trade, the Flames were able to sign him to an eight-year, $84 million extension that carried an annual cap hit $10.5 million.
Weegar also spent his entire career in Florida to that point and was a highly sought after asset as a steady defenceman. He was coming off a career-high eight goals and 44 points with a plus-40 rating while averaging 23:22 minutes a night.
The Flames were eventually able to convince him to sign eight-year, $50 million deal to stay in Calgary.
The Panthers got straight to work, signing Tkachuk to an eight-year. $76 million contract immediately after the trade.
General manager Bill Zito compared Tkachuk to a “unicorn” as the reason he paid such a high price to get the 6-foot-2 winger.
Tkachuk’s unique style of physical and highly skilled play makes him a unique talent in the NHL that every team looks for.
“You got to give to get. It was a situation that came up in a very, very short window,” Zito said at Tkachuk’s introductory press conference three days after the trade. “When you have an opportunity like this, you have to pursue it. When you have a chance to add a player like Matthew to the organization, the price is steep. That’s how things went down.”
Florida takes off
Fast forward four years the outlook of this trade is completely different than it was in 2022.
Prior to the trade, the Panthers were a team that was trying to establish itself as a perennial playoff contender. They had been eliminated by the cross-state rival Tampa Bay Lightning two years in a row after making the playoffs for the first time in three seasons in 2020 as part of the COVID-19 bubble.
Tkachuk burst on the scene in Florida, scoring 40 goals and 109 points which was the second most points in a single season by a Panther, only behind Huberdeau.
His production helped the Panthers claim the final wild-card spot in the Eastern Conference before raising his play in the playoffs. Tkachuk recorded five goals and 11 points to rally his team back from a 3-1 deficit against the Presidents’ Trophy winning Boston Bruins to win in seven games.
He went on to record 11 goals and 24 points in 20 games in the playoffs, leading the Panthers to the Stanley Cup Final before bowing out to the Vegas Golden Knights.
After getting a taste for the final, Tkachuk maintained his prowess in the playoffs the next two seasons, recording 22 and 23 points, respectively, as the Panthers won back-to-back Stanley Cup championships in 2024 and 2025.
Tkachuk was viewed as the catalyst of this change, as carried the Panthers offensively during their trip to the final in 2023 and was considered to be the heart and soul of the Panthers during their two title runs.
“We’re so lucky to have Chucky on our side,” goalie Sergei Bobrovsky said after sweeping the Carolina Hurricanes in the Eastern Conference Final in 2023. “He’s been great all playoffs. We’re just lucky to have him.”
“Everyone sees what he’s doing on the ice,” added captain Aleksander Barkov. “But what he does off the ice [to prepare] is eye opening.”
The success of the Panthers has led to it becoming a sought after destination for players looking for new homes.
Florida has successfully retained players they developed like Barkov, forward Sam Bennett, and defenceman Aarron Ekblad to long-term contracts, possibly taking less money to stay together in Florida.
Long-time Boston Bruins star Brad Marchand was acquired at the trade deadline in 2025he elected to sign long-term to stay with the club after winning the Stanley Cup.
Most recently, the Panthers were able to pry Tkachuk’s brother, Brady, from the Ottawa Senators. Brady told to club he didn’t intend to re-sign when he becomes a free agent at the end of the 2027-28 campaign and made it clear he wanted to play with his brother in Florida.
After the Panthers missed the playoffs last season, they’re poised for a return to prominence in 2026-27 with FanDuel having them as the odds on favourite to win the Stanley Cup at +650.
Not what the Flames were expecting
After securing Huberdeau and Weegar to long-term deals and then signing Nazem Kadri as an unrestricted free agent away from the defending Stanley Cup champion Colorado Avalanche, the Flames were expecting to stay in contention n the Pacific Division.
However, the team has failed to make the playoffs in the four seasons since making the trade, bottoming out last season with a 34-39-9 record.
Huberdeau has struggled to live up to expectations as a Flame.
He went from recording 115 points in his last season with the Panthers to only 55 points in his first year in Calgary. The 60-point drop-off set a new NHL record for the largest single-season decline in points.
After putting up a decent 28 goals and 62 points in 2024-25, Huberdeau only played 50 games last season after undergoing hip resurfacing surgery.
Weegar remained a productive with the Flames, setting a career-high 20 goals and 52 points during the 2023-24 season.
The 6-foot, right-shot defenceman struggled last season in Calgary with three goals and 21 points in 60 games with a minus-35 rating. He was traded to the Utah Mammoth prior to the trade deadline in exchange for defenceman Olli Maatta, prospect Jonathan Castagna, and three second-round draft picks in the 2026 NHL Draft.
Schwindt played a total of four games for the Flames before he was claimed off waivers by the Vegas Golden Knights in October in 2024 before eventually making his way back to Florida the following year.
Calgary used the first-round draft pick to select Cullen Potter with the 32nd overall pick in the 2025 draft. Cullen played the last season at Arizona State University in the NCAA, recording 12 goals and 26 points in 24 games.
