Jonathan Huberdeau has become one of those contracts everyone in the league knows by name, and that alone tells you how far things have drifted from the dream Calgary had when it landed him in the Matthew Tkachuk blockbuster.
The Flames brought in a 115-point winger fresh off a career year, then moved fast with an eight-year deal carrying a $10.5M AAV. At the time, it looked like the kind of swing that could define a franchise.
Instead, Huberdeau’s production dropped hard in Calgary: 55 points in 79 games in his first season, then 12 goals and 52 points with a minus-29 in 2023-24, the worst plus/minus of his career. He did briefly bounce back two years ago with 28 goals, but even that still added up to only 62 points.
Last season, hip issues limited him to 25 points in 50 games.
That’s the player now, and the distinction matters. Huberdeau is not the superstar Calgary paid for. He’s a 50-60 point winger at this stage, someone who can help a lineup and still drive play, but not at a price tag built for elite production.
That’s where the Oilers come in.
Edmonton’s top end is already loaded with Connor McDavid, Leon Draisaitl and Zach Hyman, but the second line is still unsettled. Nugent-Hopkins is trending toward a third-line matchup role, while Matt Savoie and Vasili Podkolzin are interesting but not yet dependable top-six answers.
The Oilers need another proven winger. They just can’t afford one making $10-12M.
If Calgary agreed to keep half of Huberdeau’s salary, though, the math changes fast. At a $5.25M cap hit, a 50-point winger suddenly looks like real value, especially for a team in a Cup window.
Calgary, for its part, would have every reason to consider moving on. Huberdeau is 33, signed through 2030-31, and doesn’t fit their timeline.
They need ice time for younger forwards, and his hip resurfacing surgery and recent setback only make the fit harder.
The proposed deal is simple enough:
Edmonton would get Jonathan Huberdeau at 50% retention, along with a 2028 second-round pick.
Calgary would get Trent Frederic, Beau Akey and a 2027 third-round pick.
From the Flames’ side, it’s hard to argue with the logic. They clear a contract that has turned into an anchor and save $26.25M in real dollars over the next five seasons.
They also avoid having to attach a first-round pick just to get out from under it. Beau Akey gives them a young defense prospect, the third-round pick helps offset the second they’re moving, and Frederic adds a rugged, useful body for the lean years.
For Edmonton, the swing is obvious. They’d be betting that Huberdeau can still give them middle-six scoring, maybe even slide up the lineup when needed, while they chase a title.
They’d also move Frederic’s contract for one with fewer years, add a second-round pick in a year they don’t currently have one, and take a shot on a player whose upside still exists if the hip cooperates. If it doesn’t, LTIR is there.
If it does, the Oilers might have found a sneaky useful playmaker.
This isn’t the first time these two teams have made a deal that felt strange at first and sensible later. The Milan Lucic-James Neal swap in 2019 gave both clubs the reset they needed, and this one would come from the same place: two teams with different timelines, each trying to clean up a problem that no longer fits.
Calgary gets flexibility. Edmonton gets scoring depth.
Both teams move money they don’t love. Both teams get something that matches where they are right now.
It would be uncomfortable, and it would light up both fanbases for a while. But if a Flames-Oilers trade is going to work, it probably has to look exactly like this.
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