Report: Flames' Asking Price Climbing For Coveted Defenseman
Pagnotta discussed Connor Zary, Zach Whitecloud, and Morgan Frost on Wednesday's Daily Faceoff LIVE, with the Flames off to a rough start after losing their first three games by a combined score of 16-3.
Whitecloud's Price Could Climb
Di Marco reported Tuesday that Flames sources don't sound like they're in a rush to move Whitecloud to start the season, and he noted that Whitecloud is playing on Calgary's top pair next to Kevin Bahl on an otherwise very young blue line.
Di Marco wrote that Whitecloud's veteran presence "could make the asking price to pry him out of Alberta even higher than before," which fits with his June report that the Flames have a specific price in mind.
Pagnotta said the interest started almost immediately after Calgary acquired him in the Rasmus Andersson trade, with teams reaching out to GM Craig Conroy to ask, "What's your plan with Whitecloud?"
There have been 2 versions of Connor Zary. Before and after the knee injury. Before the injury, Zary was electric and looked like he could be a skilled middle six forward in the NHL. Unfortunately he's never been the same since the injury. His skating took a massive step back. https://t.co/eArnJBPAXK
— Robert Munnich (@Robert_Munnich) October 5, 2026
"He's got a Stanley Cup ring. He brings some jam to his game," Pagnotta said, adding that a lot of teams "wouldn't mind getting their hands on him," especially at his cap hit.
Whitecloud is 29, has two years left at a $2.75 million cap hit with no trade protection, per Di Marco, and his ice time jumped from 18:46 a night with Vegas to 22:40 after the trade to Calgary last season, according to Daily Faceoff.
Pagnotta said Toronto is looking at that type of defenseman and that it "wouldn't surprise me at all" if the Maple Leafs escalated their conversations with Calgary, and he added that Montreal had interest last season, though he's not sure where the Canadiens stand now.
Di Marco also reported last week that the Flyers see Whitecloud as the archetype of the defenseman they'd like to add.
Zary Cleared Waivers And Frost Is Next
The market for Zary looks very different, with Pagnotta saying there was interest in the former first-round pick but that his $3.775 million cap hit for the next two years is why he wasn't claimed after clearing waivers.
Some teams without full cap flexibility have told Calgary, "We like the guy, but we got to send something back," Pagnotta said, adding that "it doesn't have to be even, but we got to make the money work in some capacity."
That's a long way from June, when TSN's Darren Dreger reported the Flames were dangling Zary in hopes of landing a second-round pick.
The Calgary Flames are going no where FAST. Zach Whitecloud has an absurdly affordable contract for two remaining seasons. The question is, why would the Calgary Flames trade him and for what? Canadiens need a stopper on D: Hutson-Dobson Matheson-Whitecloud Guhle-Reinbacher Carrier/Struble/Xhekaj/Engström #Flames #GoHabsGo #NHL
— Joël 📝📺🎙️ (@RiseFromTheAshZ) October 7, 2026
Frost is in the final year of his contract, and Pagnotta expects him to be "a prime candidate to be moved at some point this season."
Frost finished tied for second on the Flames with 43 points last season and set a career high with 22 goals.
Calgary has about $15 million in cap space with 21 of 23 roster spots filled, and Conroy said last week that the Flames are open to buying as well as selling.
