Steve Yzerman completed one of his final offseason tasks Friday afternoon by signing forward Joe Veleno to a two-year contract — Elliotte Friedman was the first to report the details:
According to details from PuckPedia, Joe Veleno’s contract begins with a $1.775 million salary and a $500,000 cap hit in its first year. In the second year, the cap hit rises to $2.275 million. At the conclusion of this contract, Veleno will be one year away from unrestricted free agency.
Veleno, originally a first-round pick from the QMJHL, posted 28 points (12 goals, 16 assists) in 80 games with the Red Wings last season. Over his NHL career spanning 232 games, the 24-year-old has established himself in a bottom-six role.
Detroit and Joe Veleno have settled
2x$2.275M
— Elliotte Friedman (@FriedgeHNIC) July 19, 2024
This new contract provides Veleno with a modest salary increase while offering him opportunities to further develop and potentially secure a more substantial contract in the future.
Heading into the upcoming season, the Red Wings still need to sign two key restricted free agents—Moritz Seider and Lucas Raymond. As per PuckPedia, Detroit currently has approximately $17.6 million in projected cap space available to finalize these deals.
