Headlines

Go To MLB Trade Rumors
Go To Hoops Rumors

Joe Veleno

Montreal Canadiens Sign Joe Veleno

at CDT | by 2 Comments

According to Sportsnet’s Elliotte Friedman, the Montreal Canadiens are closing in on a contract for center Joe Veleno. It’ll be a coming-home party for the former first-round pick, who’s from Montreal and spent his junior days with the QMJHL’s Saint John Sea Dogs and Drummondville Voltigeurs. The Canadiens confirmed it is a one-year, $900K contract for Veleno.

Veleno has had an unexpected path through the NHL. He was drafted 30th overall by the Detroit Red Wings in the 2018 NHL Draft, using one of the picks acquired from the Vegas Golden Knights in exchange for Tomáš Tatar. It was a relatively steep fall in draft stock for Veleno, who had been projected as a top-10 talent on most boards before the 2017-18 season.

Still, his prospect pedigree grew a year after being drafted, putting together an impressive showing with the Voltigeurs, scoring 42 goals and 104 points in 59 games with a +63 rating. He was relatively successful throughout his time for Team Canada during the World Junior Championships, scoring one goal and eight points in 11 tournament contests over two years.

Unfortunately, he began to stagnate upon joining the AHL’s Grand Rapids Griffins. Veleno remained a quality defensive player, but the scoring capacity he showed at the junior level didn’t follow him into professional hockey.

Throughout his time in Detroit, Veleno was largely utilized in a bottom-six role, averaging 13:05 of ice time over five and a half seasons. He finished his tenure as a Red Wing with 35 goals and 74 points in 288 games with a dreadful -56 rating.

Still, his defensive metrics paint a different picture and prove he has some value on that side of the puck. He averaged a 90.3% on-ice save percentage throughout his time in Detroit, while starting 54.0% of his shifts in the defensive zone. His faceoff percentage (46.6%) is subpar for a defensive-minded center, but Veleno continued to hold his own.

Considering that the Red Wings were a lethargic defensive team throughout Veleno’s tenure, he proved to be one of the few bright spots defensively. His time with Detroit ended last season, when the team traded him to the Chicago Blackhawks at the trade deadline for Petr Mrázek and Craig Smith.

Unsurprisingly, with a need to graduate more prospects to the NHL level, Veleno’s time in Chicago lasted 18 games. He was traded to the Seattle Kraken this offseason for André Burakovsky and was subsequently bought out by the Kraken.

In Montreal, it may be an opportunity for Veleno to become a full-time winger. Having Nick Suzuki, Kirby Dach, Alex Newhook, and Jake Evans on the roster for next season, Veleno doesn’t serve as an objective improvement over any of their available options.

There’s a decent chance Veleno will become a fourth-line left wing in Montreal, while serving as a center option if the team runs into injury trouble.

Kraken Buy Out Joe Veleno

at CDT | by 8 Comments

June 30: Veleno has cleared unconditional waivers and will be bought out, Elliotte Friedman of Sportsnet reports.

June 29: The Kraken announced Sunday they’ve placed newly acquired center Joe Veleno on unconditional waivers for a buyout.

If a team wants to pick up the final year of Veleno’s contract at a $2.275MM cap hit, they can do so over the next 24 hours, in which case the Kraken would not be on the hook for the salary cap implications of a buyout. Waiver priority is still determined by reverse standings order from the 2024-25 season. In the more likely event he clears waivers, the 25-year-old’s buyout won’t carry as much of a salary cap penalty as usual. Players under 26 years old receive only one-third of their remaining base salary in a buyout, instead of two-thirds.

Veleno was due to earn $1.775MM in base salary in 2025-26, so the total cost of the buyout will be $592K spread over the next two seasons. He was owed a $500K signing bonus on July 1 that is protected from a buyout, though. That means the Kraken will carry a $796K cap charge in 2025-26 and a $296K cap charge in 2026-27, according to PuckPedia. Even with the increased buyout penalty next season, they’re still opening roughly $1.5MM in space compared to his initial cap hit.

Seattle acquired Veleno from the Blackhawks in a one-for-one swap for winger André Burakovsky last weekend. They initially opened $3.225MM in cap space for 2025-26 with the move, but that number jumps to $4.7MM with Veleno’s pending buyout. The 2018 first-rounder seemed like he may have been an awkward fit on a Seattle roster already teeming with natural centers, particularly after they also acquired Frédérick Gaudreau from the Wild a few days ago.

It’s clear now he wasn’t in their plans moving forward and was only taken back in the deal to take a contract off Chicago’s books. Assuming he’s indeed bought out, he’ll hit unrestricted free agency for the first time following one of the more underwhelming seasons of his brief NHL career. 2024-25 was the fourth season for Veleno as a full-timer with the Red Wings, who drafted him 30th overall seven years ago, but he only managed 10 points and a -14 rating in 56 games as their fourth-line center before being traded to the Blackhawks at the deadline for Petr Mrázek and Craig Smith.

Veleno had a decent end to the campaign in Chicago. He put together a 3-4–7 scoring line in 18 games, ranking eighth on the team in scoring from the trade deadline until the end of the season. All of that production came at even strength while averaging a relatively conservative 12:38 per game. His historically underwhelming possession impacts remained in the gutter, though. He posted a 41.1 CF% and 37.9 xGF% at even strength, along with a minus-nine rating for the Hawks, although it’s worth noting he did face a difficult workload with 64.2% of his zone starts coming in the defensive end.

That end to the season, combined with his draft pedigree, means it won’t be surprising if Veleno lands an NHL contract as a UFA. It won’t be in the neighborhood of his previous $2.275MM cap hit, though. Players of that caliber who get bought out – think defenseman Adam Boqvist last offseason – usually settle for a league-minimum contract in hopes of landing in the best environment to get their career and development back on track.

Seattle now has just over $18MM in cap space with six open roster spots, according to PuckPedia. Three of those spots will presumably be filled by pending RFAs Ryker Evans, Kaapo Kakko, and Tye Kartye. That trio will likely consume between $8.5MM and $10.6MM of cap space, depending on whether it’s a long-term or bridge deal for Evans, per AFP Analytics’ projections.

Image courtesy of David Banks-Imagn Images.

Blackhawks Acquire Andre Burakovsky

at CDT | by 19 Comments

The Kraken and Blackhawks have made a swap of underperforming forwards.  Chicago has acquired winger Andre Burakovsky from Seattle in exchange for center Joe Veleno in a one-for-one move.  Both teams have confirmed the trade.

Burakovsky became a key secondary scorer when he was acquired by Colorado back in 2019.  Over three seasons with the team, he had two seasons of more than 40 points while his last one with them saw him record a career-best 61, allowing him to hit unrestricted free agency for the first time while being one of the better options available on the open market.

That helped him land a five-year, $27.5MM contract with the Kraken in 2022 and the deal has not gone particularly well thus far.  The 30-year-old produced at a similar rate in 2022-23 from a points per game perspective but while he had 39 points in 49 games, missing 33 outings due to injury made for a disappointing year.  2023-24 was more of the same on the injury front as he once again missed 33 games, but to make things worse, his output fell considerably, down to just seven goals and nine assists.

This past season, Burakovsky was able to rebound a bit.  For starters, he was able to play in 79 games, one shy of his career best in that regard.  Meanwhile, while he didn’t get back to the type of production he had back in Colorado, he was able to chip in with 10 goals and 27 assists.

Last summer, Chicago added wingers Tyler Bertuzzi and Teuvo Teravainen in free agency, giving themselves some upgrades up front and some veterans to work with their young forward core.  This move appears to follow that same idea while they’ll be taking on the final two seasons of Burakovsky’s deal at a $5.5MM price tag to make that happen.

As for Veleno, he’s on the move for the second time in a matter of months.  The 25-year-old spent parts of five seasons with Detroit after being a late first-round pick by the Red Wings back in 2018 but he was moved to the Blackhawks at the trade deadline in exchange for goaltender Petr Mrazek.

This past season, Veleno played in 74 games between the two teams, notching eight goals and nine assists in a little over 12 minutes per night of playing time.  It was the first time in three years that he failed to reach the 20-point mark with his career high in that regard coming in 2023-24 when he had 28.  While he was a productive scorer at the junior level, Veleno has been more of a checker at the professional ranks.

Veleno has one year left on his contract at a $2.275MM cap charge and joins a center group that is starting to become a bit crowded.  They already have Matty Beniers, Chandler Stephenson, and Shane Wright down the middle while Jared McCann, a natural center, is already on the wing.  Top prospect Berkly Catton is expected to push for a roster spot in training camp as well.  While the Kraken solved one logjam by moving out Burakovsky following the recent acquisition of Mason Marchment, they’ve created another with this move.

Speculatively, Seattle has a relatively easy way to solve it.  If they’re primarily looking for cap flexibility and can’t move Veleno in the coming days, he could become a buyout candidate.  Since he’s still 25, the cost of buying out that final year would only be one-third, not the standard two-thirds.  That would cost the Kraken a cap charge of $795.8K next season and $295.8K in 2026-27, allowing them to effectively remove the majority of Burakovsky’s $5.5MM cost from their books.  Alternatively, they could give Veleno a chance to lock down the center spot on the fourth line as he has shown himself to be useful in that role for several years now and see what happens from there.  Either way, their early offseason shakeup continues.

Photos courtesy of Walter Tychnowicz (Burakovsky) and David Banks (Veleno)-Imagn Images.

Blackhawks Acquire Joe Veleno From Red Wings

at CDT | by 28 Comments

The Detroit Red Wings announced that they’ve traded forward Joe Veleno to the Chicago Blackhawks for netminder Petr Mrázek and forward Craig Smith.

Thanks to his performance this season, Veleno became an interesting trade candidate from the Red Wings’ perspective. The former 30th overall pick of the 2018 NHL Draft recently achieved back-to-back 20-point campaigns in Detroit in a bottom-six role but hasn’t performed up to that standard this season. Veleno has registered five goals and 10 points for the Red Wings in 56 games, averaging 11:57 of ice time per game.

The native of Montreal, Quebec, hasn’t translated well to Todd McLellan’s system. In 26 games under the new head coach, Veleno has underperformed, scoring only one goal and accumulating four points, with a disappointing shooting percentage of 4.3%. Even as his physicality has increased in the last several years, Veleno hasn’t added much value in a bottom-six role for Detroit.

Still, he’ll have plenty of runway to produce with Chicago. He’s signed to a reasonable $2.275MM salary through next season and could make for a decent change-of-scenery candidate with the Blackhawks. As a natural center, Veleno allows Chicago to move Lukas Reichel or Nick Foligno to the wing in the team’s bottom six.

Veleno’s inclusion in the deal is the only non-puzzling portion for the Red Wings. Mrázek is signed to a relatively expensive $4.25MM contract through next season and becomes the third NHL-caliber goalie on Detroit’s roster. Additionally, since July 1st last summer, Mrázek has become the fourth goalie brought in by general manager Steve Yzerman in the past eight months.

Although the Red Wings’ tandem of Cam Talbot and Alex Lyon have disappointed recently, Mrázek won’t be much of an improvement should he maintain his production from the Blackhawks. Without factoring in his W/L record, Mrázek has a .890 SV% and 3.46 GAA in 33 starts this year with a 93rd-ranked goals saved above expected, according to MoneyPuck.

Meanwhile, Smith probably wouldn’t have been on Detroit’s radar if rookie Carter Mazur wasn’t injured in last night’s contest. Mazur was expected to fill the void of Christian Fischer in the team’s bottom-six after they lost him on waivers to the Columbus Blue Jackets. The veteran winger has recorded nine goals and 16 points in 40 games for Chicago this season, losing a handful of games to a nagging back injury.

Daily Faceoff’s Frank Seravalli was the first to report on the deal. 

2024 Salary Arbitration Tracker

at CDT | by Leave a Comment

It has been a quieter year on the salary arbitration front across the NHL.  After 23 players filed last summer, just 14 did this time around.  As expected, most have settled so far with a few hearings still pending.  Here’s a rundown of who has settled and who still needs to sign.

Updated 7/30/24, 1:07 p.m.

Contracts Settled

D Jake Christiansen (Blue Jackets) – one year, $775K (two-way agreement)
F Connor Dewar (Maple Leafs) – one year, $1.18MM
F Jack Drury (Hurricanes) – two years, $3.45MM
D Ty Emberson (Sharks) – one year, $950K
G Jet Greaves (Blue Jackets) – two years, $1.625MM (two-way in 2024-25, one-way in 2025-26)
F Ukko-Pekka Luukkonen (Sabres) – five years, $23.75MM
F Beck Malenstyn (Sabres) – two years, $2.7MM
D J.J. Moser (Lightning) – two years, $6.75MM
F Joe Veleno (Red Wings) – two years, $4.55MM
F Oliver Wahlstrom (Islanders) – one year, $1MM
F Kirill Marchenko (Blue Jackets) – three years, $11.55MM
F Martin Necas (Hurricanes) – two years, $13MM
D Ryan Lindgren (Rangers) – one year, $4.5MM

Contracts Awarded

D Spencer Stastney (Predators) – two years, $1.675MM (two-way in 2024-25, one-way in 2025-26)

Scheduled Hearings

none

A reminder of some of the arbitration rules for the upcoming potential hearings:

  • A player and team can settle on a deal at any point before the hearing starts.
  • Once the hearing has taken place, the arbitration decision must be issued by email within 48 hours.
  • Arbitration awards can only be one or two years in length. (Players who are in their final year of restricted free agency are only entitled to a one-year agreement from an arbitrator.)
  • The team decides on the awarded term as these were all player-elected filings.
  • The team can walk away from the arbitration decision if a contract with an average annual value of more than $4.74MM is awarded.

Worth noting is that teams who have someone file for arbitration will receive a second buyout window three days after their final contract is settled or awarded.  The window lasts for 48 hours and the only eligible players to be bought out in this timeframe are those who have an AAV of $4MM or more and were on that team’s reserve list at the trade deadline back in March.

Red Wings Sign Joe Veleno To Two-Year Contract

at CDT | by 5 Comments

Saturday: The team officially confirmed Veleno’s re-signing and the $2.275MM AAV.

Friday: The Detroit Red Wings have signed centerman Joe Veleno to a two-year contract, shares Sportsnet’s Elliotte Friedman (Twitter link). The deal will carry an annual average value of $2.275MM and settles negotiations with a multi-year deal before Veleno was set for salary arbitration.

Veleno found his footing in the NHL during the 2022-23 season, posting 20 points in 81 games as he fought to carve out a role in Detroit’s middle-six. The performance was enough to earn him a one-year, “prove it” deal with the Red Wings last summer, though it came at a $70K cut in salary from his entry-level deal. But Veleno made quick work of the opportunity, stamping out 12 goals, 16 assists, and 28 points this season – all career-highs.

He’s had to work out of the high-energy, high-scoring role he carried through his four-year QMJHL career, instead leaning much more into the physical advantages of his 6-foot-1, 201-pound frame. That change in style has made him much more effective at filling the responsibilities of a third-line centerman, with Veleno ranking fourth among Red Wings forwards and hits (108) and third among centermen in faceoff percentage (49.0 percent) this season. Veleno’s production has grown in tandem with his intangibles, and he’ll now get a chance to earn one more pay raise before his prime years.

14 Players Elect For Salary Arbitration

at CDT | by 10 Comments

Per Sportsnet’s Elliotte Friedman and originally produced by the National Hockey Leaguer Players’ Association, 14 players have elected for salary arbitration this summer. The deadline for team-elected arbitration is tomorrow. Friedman also notes the arbitration hearings will happen between July 20th and August 4th. To add context, not every one of these players will appear for a hearing with their respective teams as they may continue to negotiate on a new contract. However, each player who elects for salary arbitration is now prohibited from negotiating with other teams or signing an offer sheet. Here is a list of the players that have elected for arbitration:

F Beck Malenstyn (Buffalo Sabres)
G Ukko-Pekka Luukkonen (Buffalo Sabres)
F Martin Necas (Carolina Hurricanes)
F Jack Drury (Carolina Hurricanes)
D Jake Christiansen (Columbus Blue Jackets)
G Jet Greaves (Columbus Blue Jackets)
F Kirill Marchenko (Columbus Blue Jackets)
F Joe Veleno (Detroit Red Wings)
D Spencer Stastney (Nashville Predators)
F Oliver Wahlstrom (New York Islanders)
D Ryan Lindgren (New York Rangers)
D Ty Emberson (San Jose Sharks)
D J.J. Moser (Tampa Bay Lightning)
F Connor Dewar (Toronto Maple Leafs)

Red Wings Assign Jonatan Berggren And Austin Czarnik To AHL

at CDT | by 3 Comments

Earlier today, the Red Wings announced (Twitter link) that both Joe Veleno and Christian Fischer will return to the lineup tomorrow against Boston.  With Fischer being on injured reserve, at least one player would likely be sent back down.  Instead, Detroit has opted to send two players down in corresponding moves as CapFriendly reports (Twitter links) that both Jonatan Berggren and Austin Czarnik have been assigned to AHL Grand Rapids.

Berggren was a regular with Detroit for most of last season, getting into 67 games with the big club where he acquitted himself relatively well, notching 15 goals and 13 assists while logging 13:28 per game.  But after GM Steve Yzerman added several pieces up front over the summer, Berggren found himself on the outside looking in at a regular roster spot and was assigned to Grand Rapids at the start of the season.

In the minors, the 23-year-old has been quite productive, picking up seven goals and 11 assists in just 19 contests.  That has helped Berggren earn six separate recalls over the last two months which has resulted in nine appearances with the Red Wings.  Despite limited playing time in those contests (just 10:08 per contest), he has been fairly productive, tallying a pair of goals along with three assists.  He’ll likely be a top recall option when the next injury arises in Detroit.

As for Czarnik, the 31-year-old has played in 18 games with the Red Wings this season despite clearing waivers twice already.  While he has typically been quite productive in the minors, that hasn’t carried over to the NHL this season as he has just one assist in those appearances.  Meanwhile, in nine games with the Griffins, Czarnik has three goals and four assists.

Meanwhile, the return of Fischer from injured reserve tomorrow will be a welcome one.  The 26-year-old has been a regular on Detroit’s fourth line this season, playing in 33 games where he has eight points and 39 hits while logging a little less than 11 minutes per night.  He has been out since just before the holiday break with an undisclosed injury.

Detroit Red Wings Re-Sign Joe Veleno

at CDT | by 1 Comment

The Detroit Red Wings have announced that they’ve re-signed forward Joe Veleno to a one-year contract for the 2023-24 season with a cap hit of $825,000. The 23-year-old just completed his third season with the Wings and tallied nine goals and 11 assists in 81 games.

Veleno served Detroit’s fourth line well as he posted 152 hits on the season and was a disruptive force against opposing offences. While he did post 20 points on the campaign, he endured some long stretches where the offence dried up, including a 20-game drought where he was held pointless.

Veleno did not qualify for arbitration, which significantly hindered his negotiating power. He will once again be a restricted free agent next summer and could be looking to cash in if he can find more offence in the upcoming season. He will be due a qualifying offer of $866,000 next summer for Detroit to retain his rights.

The Montreal, Quebec native has a good combination of size and speed. He does good work on the forecheck, but it does feel like he has a lot more to give as he enters his prime. Although he hasn’t typically been penalized a lot in the NHL, he did face a major suspension this past spring when he was suspended at the 2023 IIHF World Championship for stomping on the leg of Winnipeg Jets forward Nino Niederreiter during a preliminary round game between Switzerland and Canada.

Veleno was coming off his entry-level contract with Detroit after dressing in 152 games over the past three years. To this point in his career, he has collected 18 goals and 18 assists while posting 13:03 of ice time per game.

Atlantic Notes: Maple Leafs, Veleno, Red Wings

at CDT | by 4 Comments

The Penguins have been linked recently to free agent winger Tomas Tatar but the belief is their preference, for now, would be a PTO invite rather than a guaranteed contract.  In a recent appearance on the NHL Network (video link), David Pagnotta of The Fourth Period also suggested that the Maple Leafs could be interested in a tryout agreement with the veteran.  Tatar is one of the top remaining free agents left on the market and is coming off a 20-goal, 48-point season and is believed to be seeking at least a two-year deal that clearly hasn’t materialized just yet.  Toronto is already in a spot where they need to clear some money even with Jake Muzzin and Matt Murray LTIR-bound so while Tatar fits for them on paper, it’s hard to see a full-season fit as things stand which might not make them Tatar’s best option if he does indeed have to go the PTO route.

Elsewhere in the Atlantic:

  • Red Wings center Joe Veleno is Detroit’s remaining restricted free agent. He recently spoke with RDS’ Jean-Christophe Bertrand and noted that discussions remain ongoing and that the hope is to have an agreement in place soon.  The 23-year-old had 20 points in 81 games last season, his first full-time campaign at the top level.  A bridge contract is the likely outcome for the two sides but those deals can range between one and three years with a decent-sized range money-wise within those options.  No matter how long Veleno’s next deal is, he will be arbitration-eligible when it expires.
  • Still with Detroit, MLive’s Ansar Khan points out just how much the roster has changed under GM Steve Yzerman. Of the players that appear likely to be on the opening-night roster for the Red Wings, just four were part of the organization prior to Yzerman’s arrival in April 2019 – Veleno, Dylan Larkin, Michael Rasmussen, and Jonatan Berggren.  Despite the turnover, Detroit hasn’t been able to snap its playoff drought which now stands at seven seasons but with several additions in recent weeks, they are better-positioned to try to take a run at a Wild Card spot in 2023-24.

Pro Hockey Rumors is not affiliated with National Hockey League, NHL or NHL.com

Do not Sell or Share My Personal Information

scroll to top