Calgary Flames 15 Best Contracts (2005-2022)

This was originally published in my 2020 book Hunting Bargains in a Salary Cap World, and has now been updated with new contracts. I will continue to update each team’s list every summer going forward. The rule is that only active contracts can move up or down. Expired deals cannot pass each other. Next summer it may even be expanded to top 20. The book is still available on Amazon, though some of the stats on active contracts are now out of date. You may yet find it interesting because there were detailed stat graphics that you won't find here. One thing you won't find here are entry level contracts because they all come from the same cookie cutter and require less skill at the negotiating table.

My latest book The Hockey Economist’s Betting Prospectus is now available. It's a comprehensive commentary on the last 3 years of hockey betting, broken down by team, by category, by strategy, by season. There is plenty of useful information for bettors of all skill levels. It covers pre-pandemic, peak-pandemic, post-pandemic. What worked, what failed. Lessons learned, market trends, team-by-team analysis. What impact did the pandemic have on hockey betting? The market differences between these 3 seasons are discussed at length, and there's a lot to talk about. To read more, visit the Amazon store.
 
Enjoy! Please note: The formatting on the graphics got scrambled being copied from Excel into Google Blogger. It's among the reasons my blog is looking for a new home.

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The Calgary Flames advanced to the Stanley Cup final in 2004 heading into the lockout, and were able to retain most of that roster after the salary cap was introduced. Sadly they were never able to recapture that magic, posting 4 consecutive 1st round losses before Jay Feaster took control from Darryl Sutter in 2010. Darryl would return to coaching for the LA Kings after his termination in Calgary, winning multiple Stanley Cups. 

The Flames started the new decade by missing the playoffs 7 times in the next 9 years, half of which came under the direction of Jay Feaster and Brian Burke. Part of that demise was due to the withering and eventual retirement of their Vezina goaltender Miikka Kiprusoff, who was mostly responsible for any success Darryl Sutter had as Flames GM.

The team’s fortunes started to improve after Brad Treliving took the top job, as the team finally won a playoff series in 2015 and again in 2022, their only series wins in the salary cap era. Treliving has done a good job building a competitive roster.

 

1. Johnny Gaudreau
 

Signed By:	Brad Treliving		Position:	F
Date:	2016-10-10		Age July 1st:	22
Term:	6 years		Playoff GP:	27
Total Money:	$40.5M		Playoff PTS:	21
Cap Hit:	$6.75M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	42.6	442	466	1237
Per 82 GP	7.1	82	86	229	19.0

“Anybody that follows our team knows what type of talent Johnny is. Those that maybe didn't get to see him as much in Calgary I think got a pretty good taste at the World Cup of what type of talent he is.”

– Brad Treliving

Both Johnny Gaudreau (78 PTS) and Sean Monahan (63 PTS and a center) finished their entry level contracts in the summer of 2016. Monahan was the first to reach a long-term agreement in August, while Johnny held out until the start of regular season, playing hardball to make himself the highest paid RFA winger that summer (getting paid in line with centers Scheifele and MacKinnon). The problem all these guys ran into was term. The salary cap would continue to rise while their cap hit remained the same, locked in while Mitch Marner reset the market for elite RFA talent.
 
Mr Hockey had a disappointing year one, but was back among the NHL’s scoring elite by year two with 84 PTS, and by year three 99 PTS. The bad news has come at playoff time when the physicality gets turned up and the number of penalty calls shrinks. Yet it was still unquestionably great value.
 
 
2. Miikka Kiprusoff
 

Signed By:	Darryl Sutter		Position:	G
Date:	2005-08-12		Age July 1st:	28
Term:	3 years		Playoff Wins:	7
Total Money:	$10M		Playoff SV%:	0.920
Cap Hit:	$3.3M		Stanley Cups:	0

 

	Avg Adj Cap Hit	GP	W	GAA	SV%
Total	6.3	224	121	2.41	0.915

“I'm trying to win a championship and at the same time, make it fit long term. That's exactly what we're doing."

– Darryl Sutter 

Miikka Kiprusoff has still only played 85 regular season games before the 2005 lockout, but much more importantly, played 26 sensational playoff games in 2004, carrying the Calgary Flames to within an inch of the Stanley Cup. The goaltender’s free agent status was still restricted due to CBA provisions, and the two sides could not agree on a long-term extension. Perhaps Darryl Sutter needed proof that Miikka was not just a one hit wonder. The term might have been low but the salary was high.
 
Upon returning in 2005/06, he was lights out and won the Vezina trophy, cementing his position as one of the league’s best netminders (also received a Hart trophy nomination). Despite diminishing returns after that lofty peak, Miikka banked $35M at age 31 when this expired, which you can read about on the Flames worst contracts list.
 
 
3. Elias Lindholm
 

Signed By:	Brad Treliving		Position:	F
Date:	2018-07-16		Age July 1st:	23
Term:	6 years		Playoff GP:	23
Total Money:	$29.1M		Playoff PTS:	14
Cap Hit:	$4.85M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	29.5	289	261	716
Per 82 GP	4.9	82	74	203	19.9

“It was a question of finding that balance of the potential we believe he has and from their side wanting to manage the risk if and when he does pop here. We eventually came to a term and a number that worked for both sides."

– Brad Treliving 

Elias Lindholm had never exceeded 45 PTS in a season when he was traded to Calgary as the main chip in the Dougie Hamilton trade to Carolina, signing a new extension before he had even played a game for the Flames. It was close to the contract that J.T Miller signed in Tampa 2 weeks earlier after a 58-point season (J.T should have been paid more, but may have taken the “no state tax” discount).
 
Immediately upon his arrival, Lindholm was placed on a line with Gaudreau, on his way to crushing his previous career high by 33 PTS. A big part of that success was due to his linemates and deployment, evidenced by his drop in production in year two when he was moved off the top line for part of the season. In year four, Lindholm topped 40 goals and 80 PTS for the first time in his career.
 
 
4. Mark Giordano
 

Signed By:	Brad Treliving		Position:	D
Date:	2015-08-25		Age July 1st:	32
Term:	6 years		Playoff GP:	22
Total Money:	$40.5M		Playoff PTS:	7
Cap Hit:	$6.75M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	42.6	432	243	1036
Per 82 GP	7.1	82	46	197	23.4

"Term was the most exciting part for me. I think the number works. I don't feel by any means I took less money than I deserve. It's a fair deal."

– Mark Giordano

Brad Treliving was absolutely taking an enormous risk by locking Mark Giordano into a 6-year term set to start after his 32nd birthday. That often tends to be a recipe for disaster. With risk, came reward. Giordano soundly defeated Father Time by registering an incredible 74-point Norris trophy winning campaign at age 34.
 
The other years of this contract weren't as exciting, but he still provided strong play that any team would want. Gio’s production returned to normalcy at age 35.
 
 
5. Mark Giordano
 

Signed By:	Darryl Sutter		Position:	D
Date:	2010-10-29		Age July 1st:	27
Term:	5 years		Playoff GP:	0
Total Money:	$20.1M		Playoff PTS:	0
Cap Hit:	$4M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	24.9	315	193	732
Per 82 GP	5.0	82	50	191	24.4

"He's not someone that I sit and worry about because he's a guy that brings it every night. He plays with his heart on his sleeve and he throws it out there every shift."

 – Darryl Sutter

This is among the cheaper contracts you’ll see for a 27-year-old defenseman coming off a 40-point season (Brian Campbell 2006 and Kurtis Foster 2010 are the only two to make a lower adjusted salary since 2005). Luckily for Calgary they signed the extension in October before he burst through the 40-point threshold.
 
Giordano’s first victory against the aging curve came at age 29 when his scoring rate doubled, growing up to 21 goals and 56 PTS in the final year at age 31. Any money that Mark might have left on the table was reimbursed by Brad Treliving in the next negotiation, when Gio banked a cool $40M. Little did we know Gio’s best was still ahead of him.
 
 
6. Dougie Hamilton
 

Signed By:	Brad Treliving		Position:	D
Date:	2015-06-30		Age July 1st:	22
Term:	6 years		Playoff GP:	35
Total Money:	$34.5M		Playoff PTS:	15
Cap Hit:	$5.75M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	37.1	429	258	1291
Per 82 GP	6.2	82	49	247	20.8

"There's a lot of things that keep me up at night, but the type of person and the type of teammate Dougie is is not one of them."

– Brad Treliving

In the final year of his ELC in Boston, Dougie scored 42 PTS in 72 GP and was traded to Calgary for a 1st round pick and a pair of 2nd round picks. Treliving secured Dougie’s autograph on this extension a few days later. While his scoring output remained consistently high, his usage in Calgary dropped by 1.5 minutes per game, as he was deployed mostly as a power play and offensive specialist.
 
Hamilton was never truly appreciated as a Flames defenseman, which led to him being traded to Carolina half way through this term for Lindholm and Hanifin. Hamilton dropped below the 40-point threshold in his first year with the Hurricanes, but he rebounded incredibly in year five and was on his way to crushing his career best, pacing for 70 PTS, when he broke his leg.
 
 
7. Jarome Iginla
 

Signed By:	Darryl Sutter		Position:	F
Date:	2005-08-03		Age July 1st:	28
Term:	3 years		Playoff GP:	20
Total Money:	$21M		Playoff PTS:	21
Cap Hit:	$7M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	39.4	234	259	895
Per 82 GP	13.1	82	91	314	21.7

"Three years - it feels like a pretty long time, a pretty good commitment. Over the course of my career, three is the longest I've done."

– Jarome Iginla

The price of Jarome Iginla stock was at all-time high following the 2004 season when he scored 54 goals (including playoffs) carrying the Calgary Flames to the Stanley Cup final. Upon return from the lockout, Iginla inked an exceptionally expensive ticket, equivalent to $14.8M in 2022. That’s the highest adjusted cap hit any player has received in the entire salary cap era (2nd place was Brad Richards). Some of my metrics thought this was an overpriced contract, and that might be right, but there’s no debating his invaluable production.
 
While many players were setting new career highs in 2005/06, Jarome had a decidedly disappointing season, scoring just 67 PTS for that big price tag. But Iggy popped off in year two, potting an impressive 94 PTS in 70 GP. He would then set a new career high in year three with 50 goals and 98 PTS (while scoring rates were normalizing elsewhere in the league). This was by no means a bargain, but still worth every penny.
 
 
8. Mark Giordano
 

Signed By:	Darryl Sutter		Position:	D
Date:	2008-07-01		Age July 1st:	24
Term:	3 years		Playoff GP:	0
Total Money:	$2.68M		Playoff PTS:	0
Cap Hit:	$892K		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	3.8	222	92	358
Per 82 GP	1.3	82	34	132	20.5

"I'm just going to try and build on last year and try and get better. I want to be guy who contributes offensively and is a good power-play guy."

– Mark Giordano

Mark Giordano left North America to play in the KHL after being unable to reach an agreement with Calgary as a restricted free agent. It wasn’t necessarily a dispute about money, but rather than he was woefully unsatisfied with his ice time and felt that his development had stalled. By going over to Russia, he got a substantial increase in deployment, helping develop his game. Holding out for the season didn’t exactly pay off financially, as he received low compensation upon his return, but did get 3 years of job security on a one-way deal.
 
In year two of this contract Giordano stepped up to the next level playing over 20 minutes per game and scoring 30 PTS for under $1M AAV. That earned him the lucrative extension that eluded him in the past as the textbook definition of a late bloomer. In the final season, Gio potted 43 PTS in 82 GP for 15 cents on the dollar.
 
 
9. Jarome Iginla
 

Signed By:	Darryl Sutter		Position:	F
Date:	2007-07-04		Age July 1st:	31
Term:	5 years		Playoff GP:	21
Total Money:	$35M		Playoff PTS:	16
Cap Hit:	$7M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	48.0	372	344	1220
Per 82 GP	9.6	82	76	269	20.7

"There are a lot of great hockey cities. For the fans and the passion, there isn't a city that beats Calgary"

– Jarome Iginla

Jarome Iginla had played with the Flames for over a decade at age 31 before he finally earned a contract longer than 3 years from the Flames, inking this extension in 2007 that would take him past his 36th birthday. There was considerable risk signing a player this old, a long serving power forward with many collisions on his odometer, this deep into his dirty thirties. It came 3 days after Ryan Smyth had taken identical terms to leave Edmonton and join Colorado.
 
The risk paid off, as Jarome managed to age gracefully, topping 85 PTS twice and maintaining a 76-point pace over these 5 seasons. In the final year, the Flames traded their captain to the Boston Bruins Pittsburgh Penguins for a 1st round draft pick and a pair of prospects (all of which were busts). Jarome would later be inducted into the Hockey Hall of Fame. Also assisted on the greatest goal scored in Olympic history in year two of the deal.
 
 
10. Matthew Tkachuk
 

Signed By:	Brad Treliving		Position:	F
Date:	2019-09-25		Age July 1st:	21
Term:	3 years		Playoff GP:	14
Total Money:	$21M		Playoff PTS:	10
Cap Hit:	$7M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	21.3	207	208	592
Per 82 GP	7.1	82	82	235	18.1

"To the fans, my Instagram and my Twitter took a hit the past couple weeks, but I'm happy that they're so passionate and they wanted me back really bad.”

– Matthew Tkachuk

Matt Tkachuk reached this term and price based on what the other RFAs signed for in the summer of 2019. He did not set the market, instead slotting in with a slightly more expensive version of the Timo Meier contract, with a high base salary in the final year, jacking up the minimum size of his qualifying offer.
 
Tkachuk provided a unique blend of physicality and scoring ability as one of the most effective super-pests in the league. The team would have been better off if they could have locked him in to more years at that price (like the Jets did with Kyle Connor), but the terms of this deal was set by the market and Matt wanted to bet on himself. The Flames were forced to trade him when this expired.
 
 
11. Kristian Huselius
 

Signed By:	Darryl Sutter		Position:	F
Date:	2006-06-19		Age July 1st:	27
Term:	2 years		Playoff GP:	13
Total Money:	$2.8M		Playoff PTS:	6
Cap Hit:	$1.4M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	4.9	162	143	375
Per 82 GP	2.5	82	72	190	17.5

"It was the worst feeling I've ever had.  I'm in South Florida and we didn’t win games. It was a tough time for everyone. I remember hearing that I had cleared waivers. Think about that, no one wanted me.”

– Kristian Huselius

Kristian Huselius had produced a disappointing 8 PTS in 24 GP for Florida in 2005/06 before getting dealt to Calgary in a steal of a deal for Steve Montador (RIP), and was immediately energized upon his arrival in Alberta. Six months later, Darryl Sutter extended the Swedish winger at a low price tag for 2 years and Huselius responded by crushing his previous career high by 28 PTS.
 
CBA rules prevented him from testing unrestricted free agency despite being 27 years old, so he bet on himself. Kristian finished the contract by scoring 143 PTS in 162 GP (72-point pace), then left Calgary in free agency to take a big pay raise in Columbus, but that transaction was not nearly as successful.
 
 
12. TJ Brodie
 

Signed By:	Jay Feaster		Position:	D
Date:	2013-07-31		Age July 1st:	23
Term:	2 years		Playoff GP:	11
Total Money:	$4.2M		Playoff PTS:	5
Cap Hit:	$2.1M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	5.3	162	72	237
Per 82 GP	2.6	82	36	120	24.6

"I think it's a fair deal for T.J. and a fair deal for the club. It puts us in a position where we can evaluate T.J. at the end of this coming season or midway through the next season and see exactly where his development is and continues to go."

– Jay Feaster

TJ Brodie had only accumulated just over 100 NHL GP when this bridge was signed, scoring at a 24-point pace during the lockout shortened season, earning himself an invite to play for Team Canada at the World Championships. Jay Feaster publicly stated that he needed to see more from TJ before the team was willing to make a long-term commitment, when in retrospect it would have been advantageous to lock him into a Roman Josi type of deal.
 
Brodie would benefit financially from the bridge, as his production and usage would continue to grow. Over 2 years he potted 72 PTS from the blueline, averaging 24.6 minutes per game, which was a steal at that price point. He would bank $23M on his next ticket.
 
 
13. Daymond Langkow
 

Signed By:	Darryl Sutter		Position:	F
Date:	2005-08-04		Age July 1st:	28
Term:	3 years		Playoff GP:	20
Total Money:	$7.3M		Playoff PTS:	15
Cap Hit:	$2.4M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	13.7	243	201	619
Per 82 GP	4.6	82	68	209	19.0

"He's a great two-way player capable of playing both ends of the ice, and brings leadership, character and grit to our team."

– Darryl Sutter

Daymond Langkow was traded to Calgary from Phoenix Arizona shortly before the 2005 lockout, and signed a new deal with the Flames when the league resumed play (it was nearly identical to the bad contract signed by Martin Lapointe in Chicago one day earlier). Daymond’s previous career high was 62 PTS in 2002, and had landed in the 50-point range most seasons.
 
By year two of his Flames tenure he set a new personal best with 77 PTS at age 29. By the end of these 3 years, he accumulated 201 PTS (68-point pace), with an additional 15 PTS in 20 playoff games, earning himself a big pay raise at age 31, which you can read about on Calgary’s worst contracts list.
 
 
14. Dion Phaneuf
 

Signed By:	Darryl Sutter		Position:	D
Date:	2008-02-06		Age July 1st:	23
Term:	6 years		Playoff GP:	12
Total Money:	$39M		Playoff PTS:	6
Cap Hit:	$6.5M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	52.9	437	212	1127
Per 82 GP	8.8	82	40	211	25.0

“It shows Dion wanted to be here long-term and it also gives us the leverage of the fifth and sixth year of what would have been unrestricted years for him.”

- Darryl Sutter

Dion Phaneuf hit the peak of his productivity at age 22, and signed this extension in the midst of the best season of his career. It was hard to find comparables on defense with 60 PTS, 200 shots, and 200 hits at age 22. Ryan Whitney had received a 6-year deal at $6.5M (adjusted for cap inflation) following a 59-point season 7 months earlier, but Dion blew that out of the water. Dion set the market higher for future young stud blueliners, with Jay Bouwmeester cashing in the following year.
 
Phaneuf would see his offensive contribution start to decline, hitting a new low in year two, and had scored 22 PTS in 56 GP in year three before being traded to Toronto for a package of mediocre players. This contract produced 437 GP, 212 PTS (40-point pace), 1127 Shots, and 1111 Hits in the regular season. Sure, it was light on playoff games but still provided good value. He was technically overpaid based on offensive production, but added extra value by eating big minutes with a ton of hits.
 
 
15. Rasmus Andersson

Signed By:	Brad Treliving		Position:	D
Date:	2020-01-08		Age July 1st:	23
Term:	6 years		Playoff GP:	12
Total Money:	$27.3M		Playoff PTS:	6
Cap Hit:	$4.55M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	27.4	138	71	248
Per 82 GP	4.6	82	42	147	22.1

"6 more years in Calgary let's go."

-Rasmus Andersson

Andersson scored at a 26-point pace in the final year of his ELC, earning himself a 6-year contract at a price $1M above what his state line warranted. Surely he felt like he was getting paid a premium, making him comfortable selling 2 years of unrestricted free agency. 

He was a $4.5M player in year one, and a $7.1M player by year two when he scored 50 PTS. If he remains at that level of production for the last 4 years, this will be an incredible bargain that will surely climb this list in future seasons.