2025/2026 Season Trade Rumours and Speculation Thread

[Jiri Hrdina]

First, let me sayI think this discussion this morning is one of the better debates we’ve had on the site in a while, with thoughtful responses from all sides, and generally respectful responses. That’s when this site is at its best.

Here are some of my general thoughts
- I think some of what we are hearing in the media is a largely incomplete story, including because these things are put out there as sound bites, and lack a lot of context. I recognize there is a consistent narrative around the Flames reluctance to sell off some of their key pieces, or do a tear-down re-build but I think some of that is based on the legitimate historic behaviors of this org. I don’t think Conroy is shutting down inquiries. I suspect he’s setting a high price. For instance, if the Leafs are asking about certain players, then I can see Conroy’s starting position being Knies. And I think Royle and other’s are right that based on where we are in the season, and the Flames position, that they are fielding a lot of really bad offers. It’s a classic negotiation tactic to throw out an extreme offer, to try and shift the expected return to be lower. If you even entertain such offers as a starting point, you are shifting your expected return. But I don’t really know what the conversations have been, but I do think what we hear in the media represents a very incomplete view and a fraction of what really happens. And everyone behind these leaks has their own incentives for what they share with the media and what they don’t.
- Regardless of the Flames’ thoughts on a re-build, including ownership, I personally believe that there are real fears over a complete tear down, and that it could lead to a “Buffalo-ish” situation here. And I think there is probably a push for a quicker turnaround than is realistic including because of the timing of the new building. Lack of patience has been a consistent problem with many franchises, that lead to failed re-builds. And I also think the owners seemingly under-rate how accepting this fan base would be to a re-build if it was properly executed with an injection of young talent that presents hope.
- I think there are legitimate reasons why you can’t trade all your good players. Strictly from an asset point of view, I think they should try to trade all 3 of Kadri, Coleman and Andersson if the returns are there. Andersson is a no brainer. But I also understand the arguments that trading all those guys could create other harms. And I’m not talking about culture. I’m talking about the need to have some good players around, so that your younger players aren’t totally exposed. I think the key guys for that are probably Kadri (trading him would leave this club with Frost as the #1 center – yikes), Weegar and Coleman. That’s not to say you don’t trade them, but I think you have to factor in those considerations including to set your expected return.

[Strange Brew]

Originally Posted by Jiri Hrdina

First, let me see I think this discussion this morning is one of the better debates we’ve had on the site in a while, with thoughtful responses from all sides, and generally respectful responses. That’s when this site is at its best.

Here are some of my general thoughts
- I think some of what we are hearing in the media is a largely incomplete story, including because these things are put out there as sound bites, and lack a lot of context. I recognize there is a consistent narrative around the Flames reluctance to sell off some of their key pieces, or do a tear-down re-build but I think some of that is based on the legitimate historic behaviors of this org. I don’t think Conroy is shutting down inquiries. I suspect he’s setting a high price. For instance, if the Leafs are asking about certain players, then I can see Conroy’s starting position being Knies. And I think Royle and other’s are right that based on where we are in the season, and the Flames position, that they are fielding a lot of really bad offers. It’s a classic negotiation tactic to throw out an extreme offer, to try and shift the expected return to be lower. If you even entertain such offers as a starting point, you are shifting your expected return. But I don’t really know what the conversations have been, but I do think what we hear in the media represents a very incomplete view and a fraction of what really happens. And everyone behind these leaks has their own incentives for what they share with the media and what they don’t.
- Regardless of the Flames’ thoughts on a re-build, including ownership, I personally believe that there are real fears over a complete tear down, and that it could lead to a “Buffalo-ish” situation here. And I think there is probably a push for a quicker turnaround than is realistic including because of the timing of the new building. Lack of patience has been a consistent problem with many franchises, that lead to failed re-builds. And I also think the owners seemingly under-rate how accepting this fan base would be to a re-build if it was properly executed with an injection of young talent that presents hope.
- I think there are legitimate reasons why you can’t trade all your good players. Strictly from an asset point of view, I think they should try to train all 3 of Kadri, Coleman and Andersson if the returns are there. Andersson is a no brainer. But I also understand the arguments that trading all those guys could create other harms. And I’m not talking about culture. I’m talking about the need to have some good players around, so that your younger players aren’t totally exposed. I think the key guys for that are probably Kadri (trading him would leave this club with Frost as the #1 center – yikes), Weegar and Coleman. That’s not to say you don’t trade them, but I think you have to factor in those considerations including to set your expected return.

On your last point, I think there's a world where they trade Frost and not Kadri. Which wouldn't be my preferred course of action but I see it as plausible.

[blankall]

Originally Posted by Strange Brew

On your last point, I think there's a world where they trade Frost and not Kadri. Which wouldn't be my preferred course of action but I see it as plausible.

That would be a bad move.

Frost is 26 and is a very consistent middle six centre. He's also a great puck carrier.

He's exactly the kind of player, if you don't have him, that the Flames would be looking for in 2-3 years.

Coronato, Frost and Zary are the only players in the current forward group I'd try to keep long term.

[Bonded]

Originally Posted by The EBUG's EBUG

Some fans on here: "Why the panic guys? They're obviously going to rebuild, stop being impatient."

That’s the real divide imo. I think they are in the midst of a rebuild and other fans don’t or doesn’t meet their definition of a ‘true rebuild’.

[Flames Fan, Ph.D.]

Everything is less complicated from the outside and more complicated from the inside. Right now I can see reasons for and against trading vets and reasons to deliberate every move they make.

But one thing that would truly disappoint me would be to let Conroy go. That would just say they have zero direction and zero plan as a franchise. It would make me really worry, because such disarray was the special sauce that turned Buffalo's 'tank to win later' into 'tanked into oblivion.'

[Psytic]

Kadri is the most valuable piece they have.The floor is the Brock Nelson trade imo. If similar value is there it’s too good to pass up. Rasmus is a great Flame, same idea if value is there move him, if not you have to think he’s played his way to an affordable contract and can mentor younger players ….I’m not moving him just for whatever scraps the Leafs have. Coleman same thing. I think the culture is fine with Backlund, Weeger and Huberdeau but I’m not moving players just for the sake of moving them either., If the plan is a one year bounce than they need home run returns on any trades.

[Bingo]

Originally Posted by SuperMatt18

How is it even impatience?

I don't think there has been on post the last 24 hours that is angry that the Flames have not made a trade yet.

People just want the Flames to be open to moving any veteran on this roster, and not keep hearing things like "I think he’s a huge leader in that room, and frankly, they’re not shopping Coleman. What’s happened is that a number of teams have checked in with GM Craig Conroy and said, ‘If you ever get there closer to March 6, we’d love to have a chance to acquire Coleman" because the reality is that Conroy should be more proactively shopping these players.

And I think people keep falsely saying this is just some Toronto media, or national media story that's being made up.

Pat Steinberg has spend the last two weeks saying that he has heard from the organization that they are not trading Kadri or Coleman unless those players ask for a trade.

Francis has pretty much said the same. And they have spent the better part of that time really championing why it's smart to not trade those veterans because they mean to much to building a winning culture.

People are reacting to what the Flames management is intentionally feeding to both key local media members (Steinberg, Francis) as well as the main national media that is generally very trusted and not just making up rumors (Friedman, Lebrun, Dreger). People are downplaying these media reports like the most connected local and national media members are rumor reports from Eklund.

I don't know how people reacting to what the organization is telling them is being impatient or panic. Steinberg and Francis aren't continually beating this drum on local radio unless it's what the organization wants to tell their fans. And they are telling their fans this to prepare them to be ready for a reality that Kadri and Coleman aren't moved this season, because they know how much noise there is around the fanbase to move those players.

Maybe the lede in all of this is that those players have already asked for trades, which is why the Flames are trying to keep things close to their chests and really reiterating they aren't open to moving them yet. But that would be speculation at this point and fans are just reacting to what the organization is intentionally telling them.

OK bad word again. Withdraw #2.

So call it whatever you want, but people reacting strongly (hope that word is ok) to click bait material to complain about the direction of a hockey team, while ignoring moves already made gets tiresome.

I'll be with you guys if Andersson is extended 8 years.
I'll be with you if Conroy comes out and says they aren't trading Coleman or Kadri because they think they'll be a huge part of this in 3 years.

But he's not.

And despite what people in Toronto are saying I doubt very much he will.

[Bingo]

Originally Posted by CliffFletcher

When do you think it will be legitimate for fans who want a deep rebuild to be concerned? You’ve already suggested that it won’t be a big deal if Kadri and Coleman aren’t moved by the deadline. So you’ll be dismissive of frustration until when - the 2026-27 deadline?

I have an assumption that intelligent people are assessing markets and making the best asset management and team building decisions they can.

I don't expect them to thread the needle on every decision.

I won't look for reasons to gripe about things that haven't happened.

[Bingo]

Originally Posted by Rhett44

I think fans have the right to be worried when Friedman, Dreger and Steinberg have all been saying the same thing the past few weeks. These are all reputable insiders who get information from both the teams and other GMs.

The Flames have not had a long history of being proactive with roster moves and willing to trade non expiring contracts. Right now it does not matter because we are already in last place. But ideally you trade Coleman and Kadri while you can still get lots of value from them. That value will likely go down next year because they will be one year older, which is why you trade both before the deadline.

In addition, trading both for futures gives us more draft pick leverage and gives us a higher chance of losing each game this year and next year, and it is extremely important we do not fall out of a top 3 draft pick this year.

For sure they do.

And others have the right to point out that taking that bait may not be the most logical path.

[Strange Brew]

Originally Posted by blankall

That would be a bad move.

Frost is 26 and is a very consistent middle six centre. He's also a great puck carrier.

He's exactly the kind of player, if you don't have him, that the Flames would be looking for in 2-3 years.

Coronato, Frost and Zary are the only players in the current forward group I'd try to keep long term.

Is Frost really all that consistent? I agree he has some skill that the team lacks but he can be invisible for very long stretches. Ditto Zary. He's younger but his issues also run deeper IMO.

I'm not suggesting they should trade both guys suddenly. But I'm not so sure they're part of the long term solution either and may not be the leaders you want if you trade all your veterans.

[TrentCrimmIndependent]

Frost is invisible in a strange way.

Like he isnt incompetent and can stick handle proficiently, but he seldom affects the game result at the end of the day due to lack of finish or setting up someone else to finish. Just doesn't excel at any particular thing, but doesnt have glaring weakness either.

Just a dude who is kind of there and blends in. Doesn't hurt you but doesnt help much either.

A fine "filler" piece to have on a competitive team. But on this team you just find yourself as an observer prodding with stick meme-ing.

[howard_the_duck]

Originally Posted by SuperMatt18

Are people panicking because the Flames haven't moved any players, or are people frustrated by the constant media narrative including from those that are generally closest to the team (Steinberg) that is stating the Flames are not shopping or even really listening to trade offers on Coleman and Kadri, that ownership views this as a 1 year face plant, and they likely won't move those players unless those players ask for a trade?

Those aren't the same thing.

And maybe it's all just media posturing but I don't really see the benefit in that either, and it's tough to think it's just media posturing knowing Edwards never wanted to do a scorched earth rebuild.

I think people might overestimate the 'clicks' this fanbase drives on a national level. The Flames are probably the...5th or 6th biggest fanbase in Canada? Maybe even 7th. I don't believe there are any planted narratives happening that span 5+ seasons, solely to be a mouthpiece of ownership. On a national/local level, to boot.

I think this whole messaging through the media thing is somewhat of a red herring. Sure, there's some of it (everyone does it), but to have the same sentiment for as long as I can remember, the average hockey fan doesn't have the attention span. Only Flames fans are tired of ownership in this market. Fans in Toronto, Winnipeg, Vancouver...haven't a clue. And national media writers would have such little incentive to keep trotting this out.

Murray doesn't want to rebuild. At some point he had no other choice, hence the current situation.

We shall see how the situation plays out. I don't have much faith that they a) will intentionally make moves to bolster their rebuild position, b) hold the rebuild position long enough to resurface as a cup contender

[The EBUG's EBUG]

Originally Posted by Bonded

That’s the real divide imo. I think they are in the midst of a rebuild and other fans don’t or doesn’t meet their definition of a ‘true rebuild’.

Extremely valid. Regardless of where people sit on the divide though I think people can also agree that it seems like there's a lack of commitment to a direction. Feels like they're "rebuilding" but also "oops if we're accidentally good and these veterans want to resign then maybe not". Half measures don't get you anywhere in this league.

If they're rebuilding: Set a price and deal non-future assets when the price is met, prioritize youth development and internal promotions, weaponize cap space by taking on bad contracts, sign free agent pump and dump deals for more futures.

If they're retooling: Be aggressive with "change of scenery" targets who could provide value now and in the future (Cozens, Zegras, Kakko, etc), make use of offer sheets to try and acquire assets, address roster needs via free agency.

Seems like they're leaning more to the rebuild side of things but if you're going to do it, then do it all the way, don't sit on the fence.

[bubbsy]

Originally Posted by Bingo

For sure they do.

And others have the right to point out that taking that bait may not be the most logical path.

Fair, it does feel like the flames, as a franchise don’t really get the benefit of the doubt from a fan like myself.

The click bait of ‘one year faceplant’, not wanting a long winded rebuild as other teams have fallen into, etc, all point to the same actions we have seen from the flames for years now. Bad veteran asset management, impatience when it comes to the down part of a team building lifecycle, etc.

How they handle their assets this deadline and offseason will be the clear indication of how they intend to handle the bottom curve of the team building cycle this time around.

[Royle9]

Originally Posted by Rhett44

I think fans have the right to be worried when Friedman, Dreger and Steinberg have all been saying the same thing the past few weeks. These are all reputable insiders who get information from both the teams and other GMs.

I'll be honest, if I wasn't hearing differently from someone I know for certain is getting real information I would be equally worried.

[Aarongavey]

Originally Posted by SuperMatt18

How is it even impatience?

I don't think there has been on post the last 24 hours that is angry that the Flames have not made a trade yet.

People just want the Flames to be open to moving any veteran on this roster, and not keep hearing things like "I think he’s a huge leader in that room, and frankly, they’re not shopping Coleman. What’s happened is that a number of teams have checked in with GM Craig Conroy and said, ‘If you ever get there closer to March 6, we’d love to have a chance to acquire Coleman" because the reality is that Conroy should be more proactively shopping these players.

And I think people keep falsely saying this is just some Toronto media, or national media story that's being made up.

Pat Steinberg has spend the last two weeks saying that he has heard from the organization that they are not trading Kadri or Coleman unless those players ask for a trade.

Francis has pretty much said the same. And they have spent the better part of that time really championing why it's smart to not trade those veterans because they mean to much to building a winning culture.

People are reacting to what the Flames management is intentionally feeding to both key local media members (Steinberg, Francis) as well as the main national media that is generally very trusted and not just making up rumors (Friedman, Lebrun, Dreger). People are downplaying these media reports like the most connected local and national media members are rumor reports from Eklund.

I don't know how people reacting to what the organization is telling them is being impatient or panic. Steinberg and Francis aren't continually beating this drum on local radio unless it's what the organization wants to tell their fans. And they are telling their fans this to prepare them to be ready for a reality that Kadri and Coleman aren't moved this season, because they know how much noise there is around the fanbase to move those players.

Maybe the lede in all of this is that those players have already asked for trades, which is why the Flames are trying to keep things close to their chests and really reiterating they aren't open to moving them yet. But that would be speculation at this point and fans are just reacting to what the organization is intentionally telling them.

I suspect that if a GM called Conroy and offered the Tanner Jeannot package (a former 1st, a 1st, 2nd, 3rd, 4th, and a 5th) he would say yes. Suspect right now the offers are absolute crap. Fact of the matter is teams are not very interested in the player if they are not putting serious packages on the table to acquire the player. No insider is saying “I heard that the Flames turned down two first and a 2nd for Coleman”.

[Lewis_D]

Originally Posted by Royle9

I'll be honest, if I wasn't hearing differently from someone I know for certain is getting real information I would be equally worried.

[Bonded]

Originally Posted by The EBUG's EBUG

Extremely valid. Regardless of where people sit on the divide though I think people can also agree that it seems like there's a lack of commitment to a direction. Feels like they're "rebuilding" but also "oops if we're accidentally good and these veterans want to resign then maybe not". Half measures don't get you anywhere in this league.

If they're rebuilding: Set a price and deal non-future assets when the price is met, prioritize youth development and internal promotions, weaponize cap space by taking on bad contracts, sign free agent pump and dump deals for more futures.

If they're retooling: Be aggressive with "change of scenery" targets who could provide value now and in the future (Cozens, Zegras, Kakko, etc), make use of offer sheets to try and acquire assets, address roster needs via free agency.

Seems like they're leaning more to the rebuild side of things but if you're going to do it, then do it all the way, don't sit on the fence.

I think the trades will come. The Markstrom trade was what made me bought into they are rebuilding. A team actually wanting to compete wouldn’t go all in on a rookie goalie no matter how good their pedigree was.

[jmac98]

Originally Posted by Wolfman

The moves that Conroy has made or more importantly not made define the direction of this team. He has made room for younger players and kept his promise when he took over. I think we know what direction he is headed.

I had thought I had read in recent weeks of reports that the organization had no interest in trading Kadri, as well as some minor rumblings of possibly extending Anderson. This is where I found the direction of the team to be confusing. Perhaps I misread or misremembered those reports or for all I know they were just fan contribution versus valid info. If so I apologize.

[really?]

Originally Posted by TrentCrimmIndependent

Frost is invisible in a strange way.

Like he isnt incompetent and can stick handle proficiently, but he seldom affects the game result at the end of the day due to lack of finish or setting up someone else to finish. Just doesn't excel at any particular thing, but doesnt have glaring weakness either.

Just a dude who is kind of there and blends in. Doesn't hurt you but doesnt help much either.

A fine "filler" piece to have on a competitive team. But on this team you just find yourself as an observer prodding with stick meme-ing.

Such an odd player. I agree with everything you say. Watch him skate and handle during a game and you notice some skill, but then you look at the box score and you routinely see eggs. The AHL is loaded with guys with similar skills and I see Frost as a step above

Frost is fine as a filler as you suggest, but unless he somehow develops into a tenacious player as he approaches his 30s his history suggests that he won’t really add much to team success.

His services are useful in the current straits, but I’d hope the team isn’t counting on him becoming more of a force than his body of work suggests he is.