"We're very aware of where he is -- in the last year of his deal," Feaster told the Herald.
"From our perspective . . . it is a process -- you have a plan and you try to work that plan. Certainly, in terms of the priority of it, we were ready to go as far as the draft, we were ready to go as far as free agency."
While Feaster has yet to start negotiations with Iginla on an extension, even though he is now eligible to do so, he is expected to address those negotiations once the team has free agency sorted out.
Feaster is certain his captain will retire in Calgary, though several trade rumors surfaced during the past season as the Flames were expected to enter a rebuilding process.
In 82 games with the Flames this past season, Iginla posted 32 goals and 35 assists for 67 points.