The 2026 NHL Draft Lottery could be one of the most significant moments, and opportunities, in the history of the Calgary Flames franchise, but it all depends on where they slot in after the lottery balls drop.

The Flames finished the season 29th out of 32 teams with a 34-39-9 record (77 points). The New York Rangers (77 pts.), Chicago Blackhawks (72 pts.), and the Vancouver Canucks (58 pts.) finished below them. Where the Flames ended the season ensures they are guaranteed a top-six pick in the NHL Entry Draft in June, and it gives them a 9.5 percent chance of snagging the first-overall pick via a lottery win.

To get a first-overall pick would be a massive boost to their current rebuild trajectory. It would be the first time the franchise has picked first overall; in fact, they’ve never even picked in the top three, with their highest selection all-time being a fourth-overall pick when they selected Sam Bennett in 2014.

It is projected that the first five picks, at least, will all be solid players, but having that first-overall pick means the Flames can land the player they believe will help take them into their new era, into their new arena, and into a new outlook of a team that can hopefully contend for a Stanley Cup in the coming years.

So who might they pick if they manage to win the draft lottery on Tuesday night (May 5)? Fans have been clamouring for Gavin McKenna since last summer, and no doubt the Flames are aware, but if they don’t select first overall, who are some of the top players the Flames could target with a top-six pick?

LW - Gavin McKenna (Penn State - NCAA)

The majority favourite for first overall this draft, McKenna had 15 goals, 36 assists, and 51 points in 35 games for Penn State this season. He’s labeled as ‘Star Forward’ potential with a heavy shot and game-breaking ability, exactly the type of player the Flames need, and want, to help lead the young group of Flames into the future.

LW/RW - Ivar Stenberg (Frolunda HC - SHL)

Stenberg is neck-and-neck in the race for the top overall pick, as the young Swede has drawn comparisons to William Nylander for his playmaking ability, offensive awareness and filthy mitts. He had 33 points (11g, 22a) in 43 games playing for Frolunda HC in Sweden this season. He also turned heads putting up 10 points (4g, 6a) in the World Juniors. Likely the most “NHL ready” prospect available in the draft.

C - Caleb Malhotra (Brantford - OHL)

One thing the Flames desperately need is their franchise number-one center. Malhotra is the highest-ranked center on most draft projections; and while he’s still developing his faceoff skills, the son of former NHLer Manny Malhotra (who was masterful at the art of the draw) also has high offensive upside. He put up 84 points (29g, 55a) in 67 games with the Brantford Bulldogs (OHL) this season and is committed to Boston University (NCAA) in 2026-27.

Keaton Verhoeff (North Dakota - NCAA)

It’s never a bad thing to have a right-shot defenceman with size on your blueline, and Verhoeff offers that. He’ll turn 18 on June 19, and he’s already listed at 6'4", 212 lbs. He has drawn comparisons to players like Aaron Ekblad and, to a lesser extent, Victor Hedman. Projected to be a top-pair blueliner with shutdown ability, he can chip in on offence as well. He had 20 points (6g, 14a) in 36 games for North Dakota this season. He brings added intangibles, as he has built-in chemistry with current Flames prospects who played with North Dakota: Abram Wiebe and Cole Reschny.

Carson Carels (Prince George Cougars - WHL)

Carels is likely the highest-ranked blueliner in the 2026 draft. And for good reason: he packs an offensive punch from the back end and is projected to be a bona fide top-pairing defenceman. He notched 20 goals and 73 points in 58 games with the Cougars this season. He also adds leadership ability, wearing an "A" as alternate captain in Prince George.

Chase Reid (Sault Ste. Marie - OHL)

Reid is another offensive defenceman who adds size and skill to the blueline. Projected as a top-four blueliner, he has averaged over a point per game in each of his last two seasons with the Soo Greyhounds (OHL). He had 48 points (18g, 30a) in 45 games last season. Adding a right-shot defenceman with offensive upside could be a nice fit behind Zayne Parekh in Calgary’s defensive arsenal.

The NHL Draft Lottery will be held on Tuesday night, and how the lottery balls land will be crucial in potentially turning the Flames' franchise fortunes around.