Assessment of the Rasmus Andersson transaction: good return or missed opportunity? – The Win Column

After months of speculation, rumors and expansion talks, the Rasmus Andersson trade finally happened last night. Despite a lot of smoke surrounding a potential move to the Boston Bruins, Andersson ultimately ended up in Vegas, the reported frontrunner going back to last summer.

This was undoubtedly a complicated transaction to pull off as Andersson has a pending UFA. How did Craig Conroy and the Flames do? Let’s break it down.

The return

First, let’s take a look at the latest trade details and what came back to Calgary for Andersson. Details are courtesy of PuckPedia.com.

*Upgrades to a 2028 first-round pick if Vegas wins the Stanley Cup in 2025-26.

All in all, the Flames ended up getting four pieces for Andersson and keeping 50% of his contract. The trade also comes with a pretty significant stipulation, as the Flames will get another first-round pick from Vegas if they win the Stanley Cup this year. For context, Vegas currently has the fourth-best odds to win the Stanley Cup this season.

How did the Flames do?

As mentioned above, this was a complicated trade as Andersson will be a UFA in a few months. The Flames simply waited far too long to make this move, and it ultimately cost them dearly as Andersson was able to use his influence to force his way to Vegas. In the end, that certainly affected the return and the Flames received less than they could have received last year or in the summer.

More draft picks are always a good thing

That said, there are still some good pieces coming back to Calgary in this deal. Getting another first-round pick is the big win for Conroy in this trade. The Flames will now make two first-round selections for four consecutive drafts from 2024 to 2027. Given how well Conroy has drafted in recent years, even a late first-round pick has a lot of value for a retooling team like Calgary. Let’s not forget that both Matvei Gridin and Cullen Potter were selected late in the first round under Conroy.

Then there’s the 2028 2nd, who could become another first-round pick. Obviously, if Vegas goes all the way and wins the Stanley Cup in 2026, a lot goes right (they currently have a 1/10 chance of winning, according to most sportsbooks), but it’s nice to have the potential for even more value in this trade. If they win the Cup, getting a pair of first-round picks would make this trade a clear home run.

When Vegas was discussed as a front-runner in the summer, most assumed they would only be willing to give up a second-round pick in the deal, so getting one and maybe even two firsts is a good gain for Conroy.

A lack of young talent hurts

However, there are a few downsides to the high-yield choice. First, it requires you to lock down the draft picks. If the players you ultimately select never materialize, you have almost nothing in return for Andersson. Second, Vegas’ picks will almost certainly be late picks no matter which round they fall in. A first-round pick from a team like Boston would have had much more value, as there is a good chance it would fall in the middle of the first round.

It also hurts not to get prospects or young NHL players in the return. Some other rumors were that the Flames would get Easton Cowan or Fraser Minten, or Matthew Poitras and Mason Lohrei. Adding a Vegas prospect like Jakob Ihs-Wozniak to this deal would have made a huge difference. Again, draft picks are great, but they are also lottery picks that could end up going nowhere. By earning a return consisting primarily of draft picks, you run the risk of leaving almost nothing of value for Andersson if the picks don’t work out.

Zach Whitecloud is the wild card

The biggest wildcard in this trading return is Zach Whitecloud. On the surface, it doesn’t make much sense to acquire a 29-year-old defender who is almost the same age as Andersson. Whitecloud is also a good shot, meaning the Flames still need to solve their defensive blockage.

However, if the Flames make the smart move and flip Whitecloud before he becomes a UFA in 2027, this return for Andersson would look a lot better. Whitecloud could undoubtedly make a great return given his reputation as a gritty cup-winning defender and his bargain contract. Could a return similar to Luke Schenn’s last year (a 2nd and a 4th) be in the offing?

Time will tell how the Flames handle Whitecloud’s future, but the bottom line is he has little to no use for Calgary in the long run. If Conroy is serious about getting younger, it would be a good idea to move the 29-year-old for more draft picks.

Tagging one or two more draft picks for Andersson’s return would take the overall trade from fine to a big win for Conroy and the Flames.

Handing out a final grade

Overall, this return was decent, but not spectacular for Calgary. It’s certainly disappointing not to get a top player back in the return, and it’s kind of annoying to deal another top-four defenseman to Vegas, but it’s easy to forget that Andersson is 29 years old and a year removed from a terrible 2024-25 season. There’s a good chance he’ll take a step back in his 30s, and not locking him up until he’s 38 is a big win for the Flames.

You probably would have liked a little more value considering you kept 50%, Vegas essentially freed up cap space in this deal and they will almost certainly sign Andersson long term eventually, but as a prospective UFA you probably didn’t get much better for Andersson without an extension. The reality is that Vegas is an attractive place to play, and they use that to their advantage to work over smaller market general managers like Conroy.

Could the Flames have gotten more if they had handled their business sooner instead of waiting? Absolutely, but given the angle they retreated to, this return is more than fine. Given Conroy’s track record in the draft, I’m confident he can turn these picks into valuable pieces for the future. If you can flip Whitecloud for more picks and/or turn the 2028 2nd into another scoop, this deal will go from just okay to a big win in my opinion.

Overall grade: B

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