The Flames needed a new No. 1 goaltender, so the hope is 35-year-old veteran Smith can hold down the forte (at least until Jon Gillies or Tyler Parsons is ready to take over as the team's new starter). Calgary got Arizona to retain 25 per cent of Smith's cap hit, which is also a big factor in this trade. Unconfirmed reports suggest the Flames will have to surrender a second-round pick if they reach the playoffs in 2017-18 (and a third rounder if they don't). This is a bit of a gamble for Calgary.

In Hickey, the Coyotes land a solid blueline prospect who has spent three years at Boston University. He was reluctant to sign with Calgary, which might have factored in the Flames' decision to trade him. Arizona also receives at least a third-round draft pick for the future with this deal. They also get Chad Johnson back, though he remains an unrestricted free agent at this time. Now 31, Johnson spent the 2013 campaign with the Coyotes. His status is up in the air.

Smith's fantasy stock is on the rise again now that he has moved to Calgary, a club with definite expectations going into 2017-18. Smith seemed to struggle within Arizona's rebuilding plan, so this deal probably helps both the player and his former team. Hickey has slight fantasy keeper appeal, though he should probably be more of a wait-and-see prospect at this time. As for Johnson, he remains in limbo.