Olofsson, Max Curran, a conditional 2028 first-round pick and a conditional 2027 second-round pick were traded to the Flames from the Avalanche on Friday in exchange for Nazem Kadri and a 2027 fourth-round pick.
Olofsson spent the first six years of his career with Buffalo but signed with the Golden Knights ahead of last season before linking up with the Avalanche on a one-year deal ahead of the 2025-26 campaign. Across 60 appearances with Colorado, he recorded 11 goals, 14 assists, 14 blocked shots, 13 hits and six PIM while averaging 13:20 of ice time.