Iginla would be the third highest paid forward and 6th highest paid Flame. You couldn't put him on the fourth line, nor Backlund's line. He only makes sense playing with Monahan or with Bennett and Gaudreau. And I just don't think his performance would be better than what you get out of Brouwer or Chaisson at this point, for $800K and $4.5M respectively.
If he's just here for insurance and depth, I'd MAYBE do it for a large salary retention and a trade for Bouma, to get him off the books.
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