Flames acquire blueliner Leopold from Avalanche
The Avalanche picked up defensemen Lawrence Nycholat and Ryan Wilson, plus a second-round pick in the 2009 draft.
The Avalanche are usually buyers this time of year, but the team has tumbled into last place in the Western Conference with a 28-35-1 record.
One of Colorado's top defenseman, Leopold has played all 64 games for the Avalanche this season, with six goals and 14 assists.
He'll be returning to familiar surroundings. Leopold played three seasons for the Flames before being acquired by Colorado on June 24, 2006.