Two years ago, Matthew Tkachuk told the Calgary Flames he had no interest in a long-term extension. As a restricted free agent, the Flames could have worked out a bridge contract that allowed him to reach NHL Free Agency. Additionally, they could have allowed the process to reach salary arbitration. Instead, the Flames traded Tkachuk to the Florida Panthers.
In one of the biggest blockbusters in recent history, Calgary received quite the haul for Tkachuk. Now that some time has passed, how has the deal worked out for both sides? Let's take a look back at the Matthew Tkachuk trade and hand out grades to the Flames and Panthers.
Full Matthew Tkachuk trade
The Panthers acquired forward Matthew Tkachuk and a conditional 2025 fourth-round pick from the Calgary Flames. In return, the Flames acquired forward Jonathan Huberdeau, defenseman MacKenzie Weegar, forward Cole Schwindt, and a conditional 2025 first-round pick. As part of this trade, Tkachuk signed an eight-year contract extension with Florida.
The condition on the fourth-round pick is that it matches the year of the first-round pick in this deal, according to PuckPedia. The first-round pick was contingent on a 2024 first-round pick Florida owed the Philadelphia Flyers. Since that pick transferred to the Flyers, the Flames will receive the Panthers' 2025 first-round pick unless it falls within the top-10 of the draft.
Panthers acquire Matthew Tkachuk
At the time, Florida was making a massive bet on Tkachuk. He had an incredible season with the Flames prior to this deal. And there were questions whether the young forward could perform as well outside of Calgary. He would no longer play with Johnny Gaudreau and Elias Lindholm. Could he continue producing at an elite level?
The emphatic answer was yes, he could. Tkachuk's first season in Florida saw him emerge as one of the best power forwards in the league. He scored 40 goals and 109 points for Florida during the regular season. In the playoffs, he came up clutch time and time again as they made the Stanley Cup Final. This includes a last-second goal to win the Eastern Conference Finals.
The Panthers lost the Stanley Cup Final that year, but they made up for it this season. Tkachuk led Florida back to the Stanley Cup Final despite seeing his offense dip during the regular season. In the Final, they defeated the Edmonton Oilers to win their first Stanley Cup. Had Connor McDavid not had a historic playoff, Tkachuk likely would have been a Conn Smythe candidate.
Tkachuk has proven that he is a legitimate superstar in the NHL. He helped change the Panthers' approach on the ice as they've become one of the more relentlessly physical teams in the league. Overall, this trade could not have gone better for Tkachuk and Florida.
Flames trade Matthew Tkachuk
At the time, the Flames seemed to have received a game-breaking haul. Jonathan Huberdeau held the all-time record for points among Panthers skaters when this trade happened. Additionally, he came off a 115-point season for Florida. MacKenzie Weegar was also one of Florida's better defensemen.
However, things have not turned out well for Calgary. The biggest elephant in the room is the sharp decline of Huberdeau's production. He went from 115 points for the Panthers to 55 for the Flames in 2022-23. Additionally, Huberdeau's ice time dipped from over 19 minutes to over 16 minutes a game.
Under a new head coach, Huberdeau received a bit more ice time in 2023-24. That said, his offensive impact remained relatively the same. He scored 12 goals and 52 points for Calgary this past season. These aren't bad numbers, but they are massively disappointing considering what we know he can do. And it's even more disappointing when his eight-year, $84 million contract extension is taken into account.
MacKenzie Weegar has been a bright spot, though. He was one of Calgary's best defensive players in 2022-23 with 12.1 defensive goals above replacement. In 2023-24, his defense dipped in a major way. But his offensive impact returned as he led all Flames defenders with 10.2 offensive goals above replacement.
Calgary has not made the Stanley Cup Playoffs since this trade occurred. In fact, it seems as if they may be headed toward a rebuild if they aren't already in that process. If Huberdeau rebounds, things could certainly change. As of now, this trade is a mixed bag for the Flames.
Grades and final thoughts
The Panthers receive high marks for the Matthew Tkachuk trade. They received an important centerpiece to their current core and have won a Stanley Cup as a result. The Flames, meanwhile, receive an average grade. Weegar's performance is definitely a bright spot for Calgary. However, the lack of production from Huberdeau combined with his albatross of a contract drags their grade down.
Florida Panthers grade: A
Calgary Flames grade: C
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