Inside the Trade: What Went Wrong Between Markstrom and the Flames

This offseason, the New Jersey Devils have made a significant move to bolster their goaltending by acquiring veteran Jacob Markstrom from the Calgary Flames. In return, the Flames received 23-year-old defenseman Kevin Bahl and a first-round pick in the 2025 NHL Draft, which is top-10 protected. It took longer than expected, but the Devils’ President and General Manager Tom Fitzgerald landed the target he wanted all along, and the Flames retained 31.25% of Markstrom’s contract.

The deal had been in the works for nearly six months, fluctuating between being on, off, and back on again.

The trade marked the end of a tumultuous period for Markstrom with the Flames. In April, when asked about his future with Calgary, Markstrom’s response of “I don’t know” hinted at his uncertainty and dissatisfaction within the organization. His comments suggested that he watched as his friends were sent packing and Calgary was dumping assets. Seeing the writing on the wall, the Flames needed to convince him of their competitiveness, or he would look for opportunities elsewhere.

“I love winning hockey games. That’s the competitive side of me,” Markstrom stated. He mentioned having a conversation with GM Craig Conroy but chose not to elaborate further.

A month earlier, Markstrom openly criticized the higher-ups in the Flames organization, suggesting that the management of his situation could have been handled better. The leaked talk of a trade to the Devils wasn’t something he wanted public, even if fans and media could tell something was up. At the very least, it became a distraction for the Flames as they tried to focus on hockey.

“The whole situation and everything, am I happy about that? No, I’m not. And I think it could have been handled a lot different from up top,” Markstrom remarked.

In mid-February, Frank Seravalli from Daily Faceoff reported that the Flames had approached Markstrom about waiving his no-move clause for a potential trade. According to Seravalli, the Flames and Devils were close to finalizing a deal, which reached the point where the Flames needed Markstrom’s approval. He suggested both sides were pretty far down the track on a Markstrom deal and Markstrom had given the OK. Somehow along the way, that trade was scuttled. “Don’t know how and don’t know why. But, they were pretty close to nailing it down. You would have seen Jacob Markstrom become a New Jersey Devil, I think at some point last week,” Seravalli noted.

So What Did Go Wrong Between the Flames and Markstrom?

Beyond the fact the Flames let it leak that a trade was being discussed, NHL insider Elliotte Friedman suggested that the stumbling block was Calgary’s overconfidence they could move Markstrom while not retaining salary in the deal. Markstrom wanted to stay in Calgary with a competitive roster, but when that wasn’t realistic, Conroy aimed to move his $6 million cap hit in full. The deal was nearly finalized, with Markstrom reluctantly agreeing, but then it was abruptly pulled away.

That was likely the end of the relationship between the two sides.

The Devils were willing to wait and the Flames had seemingly burnt the bridge with Markstrom. A financial sticking point created the first hurdle and a misread of the market at the deadline –Calgary didn’t bank on the fact that the Devils would go out and trade for two other netminders in Jake Allen and Kaapo Kahkonen — created the second. The final nail in the coffin was how public it all got, only for Markstrom to not be traded and awkwardly remain a Flame as the season wound down.

The Trade Allows Both Sides to Start Fresh

Markstrom’s move to the Devils signifies a fresh start for the goaltender and a strategic addition for New Jersey. For the Flames, parting with Markstrom allows them to focus on their rebuilding efforts, now armed with a promising young defenseman and a valuable draft pick. As both teams move forward, the trade highlights the complexities and negotiations behind significant player movements in the NHL.