In the annals of Calgary Flames history, the 1988-89 season stands on its own. After all, the Flames won the Stanley Cup. The magical 1989 club came together gradually through several maneuvers by general manager Cliff Fletcher.
23 players got their names on the Stanley Cup in 1989.
Goaltenders
Defensemen
| Arrived | Departed | |
| #2 Al MacInnis | 1981 NHL Draft (15th overall) | Traded to St. Louis |
| #4 Brad McCrimmon | Traded from Philadelphia | Traded to Detroit |
| #5 Dana Murzyn | Traded from Hartford | Traded to Vancouver |
| #6 Ric Nattress | Traded from St. |