Navigating the salary cap is one of the most important tasks for a front office.  Teams that can avoid total cap chaos by walking the tightrope of inking players to deals that match their value (or compensate for future value without breaking the bank) remain successful.  Those that don’t often see struggles and front office changes.

PHR will look at every NHL team and give a thorough look at their cap situation for the 2024-25 season.  This will focus more on players who are regulars on the roster versus those who may find themselves shuttling between the AHL and NHL.  All cap figures are courtesy of PuckPedia.  We’re currently covering the Pacific Division, next up is the Flames.

Calgary Flames

Current Cap Hit: $69,288,958 (below the $88MM Upper Limit)

Entry-Level Contracts

F Matthew Coronato (one year, $925K)
F Samuel Honzek (three years, $918K)
F Connor Zary (one year, $863K)

Potential Bonuses
Coronato: $850K
Honzek: $500K
Zary: $212.5K
Total: $1.5625MM

When he was with the Flames, Coronato’s role and production were limited and he was deployed the same way early on this year before being demoted earlier this week.  With that in mind, a short-term bridge deal is likely coming his way, one that shouldn’t cost much more than his current deal.  Meanwhile, his bonuses are unlikely to be met.  Honzek made the team out of camp, playing his first four NHL games but has already landed on IR.  It’s too early to forecast what his next deal will be while his bonuses aren’t likely to be reached unless there is a portion split off for games played.

Zary, meanwhile, is a bit more established after getting into 63 games last season where he averaged over half a point per game.  He’s at a better rate in the early going this year while ranking in the top five for ATOI.  Someone with this type of profile could land a longer-term agreement which would likely push past the $5MM mark.  The safer bet here would be a bridge deal, however, one starting with a three.  If he stays at his current pace, he should easily reach his one ‘A’ bonus.

Signed Through 2024-25, Non-Entry-Level

D Kevin Bahl ($1.05MM, RFA)
D Tyson Barrie ($1.25MM, UFA)
D Joel Hanley ($787.5K, UFA)
F Adam Klapka ($775K, RFA)
F Andrei Kuzmenko ($5.5MM, UFA)
F Anthony Mantha ($3.5MM, UFA)
D Brayden Pachal ($775K, UFA)
F Kevin Rooney ($1.3MM, UFA)
G Dan Vladar ($2.2MM, UFA)

Kuzmenko is one of the more intriguing potential unrestricted free agents this coming summer.  His first year was quite impressive with 39 goals and 74 points but there was still some uncertainty about his repeatability, leading to this contract.  That wound up being wise for Vancouver as Kuzmenko struggled last season to the point of being a cap dump to the Flames.  To his credit, he played better after the swap and is off to a good start this season.  If he gets back to that 30-goal mark and shows that last year was the outlier, he could still land a contract around this price point with a bit more term this time around heading into his age-29 year.  But if he struggles again, something closer to $4MM might be where he lands.

Mantha didn’t have a strong market this past summer, leading to this contract where he’s hoping to play a big role and show that he’s worth a pricey long-term agreement.  He’s off to a decent start early on and the perceived upside might still be there.  If he rebounds, something in the $5MM range could happen; otherwise, he could stay around this price tag.  Rooney has had a very limited role with the Flames over his first two-plus seasons with them.  Accordingly, he should be closer to the league minimum moving forward.  Klapka has seen fourth-line action in his limited NHL minutes.  Accordingly, while his qualifying offer is for just under $814K, it wouldn’t be shocking to see Calgary offer a deal for the minimum with a higher AHL salary next time.

Barrie had a rough year last season and despite a track record of being a solid offensive producer from the back end, his market basically cratered to the point of needing to take a PTO.  With a limited role early on, it’s hard to project much of a raise at this point unless he can secure a full-time spot.  Bahl is more of a throwback stay-at-home defender and the lack of offensive numbers will hurt him.  Still, he’s viewed as part of their longer-term plans so it wouldn’t be surprising to see a four or five-year deal come his way with a price tag starting with a three.

Hanley hasn’t played much in the NHL in recent years but he has also been a full-time NHL player since the 2020-21 campaign, albeit primarily in a seventh role.  That’s likely to keep him around the minimum next time out, probably again on a one-way price tag.  Pachal has also spent a lot of time in the sixth or seventh role and while he’s getting a chance to play more regularly in Calgary, it’s still on the third pairing.  Accordingly, it’s hard to see him landing much more than $1MM next summer.

Vladar struggled considerably last season before undergoing hip surgery.  If he were to repeat the same type of performance this year, he’d be looking at closer to half of this price point.  However, indications are that he’s now healthier than he was the last couple of years and is off to a good start in limited action.  Given the ups and downs, he’s probably not going to be able to command top dollar for a backup option but the two-year, $6.6MM deal Laurent Brossoit received from Chicago this summer might be doable if Vladar has a bounce-back year.

Signed Through 2025-26

D Rasmus Andersson ($4.55MM, UFA)
F Mikael Backlund ($4.5MM, UFA)
D Jake Bean ($1.75MM, UFA)
F Ryan Lomberg ($2MM, UFA)
D Daniil Miromanov ($1.25MM, UFA)
F Martin Pospisil ($1MM, RFA)
G Dustin Wolf ($850K, RFA)

At 35, Backlund is nearing the end of his playing days but he still played top-line minutes last season and is averaging even more early on this year.  As long as he can hold down a regular spot in the top six and be his usually strong self defensively, Calgary will do well with this deal.  If that holds up through next season, another short-term contract in this price range could happen.

Lomberg was brought over from Florida in free agency on a deal that will be tough to justify from a value perspective as this contract for a player coming off a seven-point season isn’t much bang for the buck.  However, GM Craig Conroy identified that he wanted to add some grit and the fact it cost this much to get him suggests he had a relatively strong market.  Pospisil wound up on a bridge deal after only securing a regular NHL spot last season.  Even so, it’s a team-friendly agreement and if he shows he’s capable of more offensively, it will be a significant bargain.  If he can move into a top-six role – something they’ve already experimented with – he could triple this (or more) in 2026.

At the time Andersson’s deal was signed, it looked a bit risky.  He hadn’t recorded more than 22 points in a season and had yet to average 20 minutes a game.  However, it has worked out arguably better than Calgary could have hoped for.  His offensive production has improved considerably, topped by a 50-point effort in 2021-22.  He has become an all-situations player who has played on the top pairing for the last few years.  That alone will help give him a very strong market in free agency before even considering the fact he’s a right-shot player, the side that is always in premium demand.  A max-term deal with an AAV starting with a seven looks like a given at this point, if not more.

Bean came to his hometown team after being non-tendered by Columbus, taking a pay cut in the process to do so.  Once touted as a high-end prospect, he has settled in more as a depth defender to this point in his career.  This price tag for a regular on the third pairing is manageable but he’ll need to find a way to at least get into a number five slot if he wants to beat $2MM again next time out.  Miromanov was acquired and quickly extended last season, giving him some security and Calgary a low-cost two-year look at a player who had shown flashes of upside in his limited action with Vegas.  At this point, establishing himself as a full-timer is the first goal, one that would allow him to stay around this price tag.  If he works his way into a fourth or fifth role between now and then, doubling this (or a bit more) could be doable.

Wolf already looks like quite a bargain given some of the other contracts promising but unproven goalies have signed recently (with an AAV higher than Wolf’s total contract value).  He’s their goalie of the future and if he locks down the starting role by then, his next deal should vault past the $5MM mark at a minimum.

Signed Through 2026-27

F Blake Coleman ($4.9MM, UFA)

Coleman had a breakout performance last season, notching 30 goals while passing the 40-point mark for the first time of his career.  From a value perspective, this price tag would be a bargain if he could maintain that type of output.  Of course, his point total is usually in the 30s and at that level, this is an above-market contract.  That said, with the role he fills and Calgary’s cap space, it’s not an overpayment they’re probably too concerned about at this point.

Signed Through 2027-28 Or Longer

F Jonathan Huberdeau ($10.5MM through 2030-31)
F Nazem Kadri ($7MM through 2028-29)
F Yegor Sharangovich ($3.1MM in 2024-25, $5.75MM from 2025-26 through 2029-30)
D MacKenzie Weegar ($6.25MM through 2030-31)

When the Flames picked up Huberdeau in the Matthew Tkachuk trade, it’s fair to say that a bit of regression was expected after he put up 115 points.  But it wouldn’t be fair to say that having his point total cut by more than half was the expectation.  After being a premier playmaker at times in Florida, he hasn’t found his footing in Calgary though he’s off to a better start this season.  At a minimum, he needs to get back to a top-line level of production.  From there, he needs to get to the upper echelon of scorers to provide a reasonable return on his deal.  In the meantime, his contract now stands as one of the worst in the NHL from a value perspective.

Kadri hasn’t been able to get back to the same level of production he had in his final year with Colorado which helped earn him this contract.  He did, however, record the second-highest point total of his career last season and is still logging top-line minutes.  In the short term, he should provide fair value on this deal but that’s unlikely to be the case for the final couple of years when he’s in his late-30s.  Sharangovich had a great first season with Calgary, blowing past his career highs offensively to help earn his extension.  He played an all-situations role in the top six last season and as long as he continues to do so and produces at a similar level to the 31 goals and 59 points he had a year ago, they should get a good return on his new deal and a great return on his current expiring pact.

Weegar was the other key piece in the Tkachuk-Huberdeau swap.  His first season saw him take a step back but last year, he had the best year of his career while notching 20 goals and 32 assists.  Given the demand for a right-shot defender, getting a top-pairing one locked up at this price tag is good value for Calgary and while he might have to play a lesser role by its conclusion, they should benefit from it being a below-market contract for most of the deal.

Buyouts

None

Retained Salary Transactions

F Jacob Markstrom ($1.875MM through 2025-26)

Best Value: (non-entry-level) Wolf
Worst Value: Huberdeau

Looking Ahead

With the Flames operating not too far above the cap floor for this season, cap space won’t be an issue for them for a while.  They have ample room to fill the center spot they’re looking to add or to take on money to help facilitate a trade.  If they wind up sellers, the $65MM floor could come into play which will be something to keep an eye on.

Calgary is presently near the beginning of a rebuilding cycle and there aren’t any big-ticket contracts on the immediate horizon with Kuzmenko being the most prominent one to deal with next summer while Andersson and Wolf will be in line for big raises in 2026.  Even with that, they’re in very good shape from a salary cap perspective and should be for the foreseeable future.

Photos courtesy of USA Today Sports Images.