Three years ago, the Matthew Tkachuk Panthers trade impact unfolded as one of hockey’s most debated moves when the Calgary Flames sent their star forward to Florida. What seemed a risky decision at the time has since transformed the Panthers into a dominant force, claiming consecutive Stanley Cup titles and rewriting the fortunes of both franchises.
The Trade That Altered the Course of Two NHL Teams
On July 22, 2022, then-Calgary Flames general manager Brad Treliving executed a blockbuster trade that sent shockwaves through the hockey community. The Florida Panthers signed Tkachuk to a massive eight-year, $76 million contract before acquiring him in exchange for a haul including Jonathan Huberdeau, MacKenzie Weegar, prospect Cole Schwindt, and a first-round draft pick.
The deal polarized fans and analysts alike. Many in Florida questioned the hefty price, convinced the Panthers gave up too much for a single player. Conversely, Calgary supporters celebrated the acquisition of Huberdeau, who had just experienced a career-best season, along with other key assets that seemed poised to keep the Flames competitive.
Despite the initial excitement and controversy, this trade’s true outcome hinged on what followed, and the subsequent seasons dramatically redefined its legacy.
The complexity of the trade was magnified by Huberdeau’s stellar performance prior to the deal, having scored 30 goals and delivered 85 assists in the previous season, propelling the Panthers to win the President’s Trophy as the NHL’s top regular-season team. Trading away such an impactful contributor appeared reckless from Florida’s perspective at the time.
Why Florida Emerged as the Unquestionable Victor
Florida’s gamble paid off spectacularly, as the Panthers secured consecutive Stanley Cup championships in 2024 and 2025. This achievement placed them alongside an elite group of NHL franchises—Detroit Red Wings (1997, 1998), Pittsburgh Penguins (2016, 2017), and Tampa Bay Lightning (2020, 2021)—who have managed back-to-back titles in the modern era.
In his inaugural season with Florida, Tkachuk propelled the Panthers to the 2023 Stanley Cup Final, narrowly missing the ultimate prize. While reaching the final was impressive, it was only a prelude to what he would accomplish next. Over the following two seasons, Tkachuk led the team to consecutive championships, becoming the defining centerpiece of a franchise that elevated from contenders to champions.
NHL insider Frank Seravalli highlighted the lasting impact of this trade, reflecting on how it shifted the hockey landscape:
“Three years ago today: the trade that tilted hockey’s axis.”
—Frank Seravalli, NHL insider
The evolution of opinion among fans further underscores the trade’s significance. One fan admitted their prior skepticism:
“Yet a lot of Florida fans hated it at the time… oh how they were wrong!”
—Unnamed fan
Contrasting views from Flames supporters reveal the deal’s growing pain on their side. One expressed frustration over Calgary’s approach:
“Calgary made a mistake taking back a package they hoped would keep them contending. They needed to collect picks and prospects in that deal. And now they’re saddled with Huberdeau at $10.5 million for six more years.”
—Unnamed fan
Other reactions conveyed regret, with one person adding simply: Don’t remind me. The overwhelming consensus among many observers was summed up plainly:
“Panthers won this trade hands down.”
—Unnamed fan
The Challenges Calgary Has Faced Since the Trade
For Calgary, the trade’s aftermath has been troubling. While Tkachuk celebrated Stanley Cup victories with the Panthers, the Flames have struggled to find success with the assets they received. Jonathan Huberdeau, once a top scorer, has failed to consistently deliver in Calgary’s system, becoming a $10.5 million salary cap burden for the team’s future.
MacKenzie Weegar has provided reliable defensive play as expected, but his impact has been insufficient to elevate the Flames into serious championship contention. The overall returns from the trade have fallen short of the hopes held when the move was made.
Many Flames fans feel the franchise missed an opportunity for a full rebuild by trading Tkachuk for experienced players rather than younger prospects and draft picks. This decision, aimed at preserving short-term competitiveness, has instead left them stagnating and questioning what might have been if a different strategy had been pursued.
As the Panthers continue to thrive, Calgary’s predicament highlights a stark contrast: the difference between constructing a winning team on paper versus delivering results where it counts most on the ice.
How One Trade Changed the NHL Landscape Completely
The Matthew Tkachuk Panthers trade impact offers a vivid example of how a single transaction can dramatically alter the trajectory of two franchises. Florida took a high-stakes risk with Tkachuk, which yielded unprecedented rewards with back-to-back championships. Meanwhile, Calgary’s more cautious approach has been met with frustration and underperformance.
This trade will be remembered not only for its immediate controversy but for the lasting influence it has had on team building strategies and the importance of balancing present success with future potential in the NHL.
Our Reader’s Queries
Q. Why did Matthew Tkachuk leave the game?
A. Tkachuk is on long-term injured reserve due to a groin injury from the 4 Nations Face-Off tournament. General manager Bill Zito used his salary cap space at the NHL trade deadline. Therefore, the Panthers star can’t play until at least the first playoff game.