Frolik, 31, has five goals and 10 points in 38 games this season, while skating a career-low 11:56 per game. The 2006 first-round pick has played in 831 games over 12 seasons, as well as 47 playoff games (including a Stanley Cup title run in 2013 with the Chicago Blackhawks).
Frolik’s $4.3-million cap hit will be wholly absorbed by the Sabres. He will become a free agent this off-season.
The fourth-round pick headed to Calgary — which was originally owned by the San Jose Sharks — is one the Sabres acquired from the Montreal Canadiens earlier Thursday in exchange for defenceman Marco Scandella, according to Sportsnet’s Elliotte Friedman.
Calgary now has a pick in each round of the upcoming draft, after trading away its own 2020 fourth-rounder last winter in exchange for defenceman Oscar Fantenberg. The Flames also have nearly $2 million in projected cap space, according to CapFriendly.