DONE DEAL: Red wings completes the signing of DefenceMAN worth $4.55 million in a two years deal

Joe Veleno signs 2-year contract for $4.55 million with Detroit Red Wings

Joe Veleno got a nice raise and a bit of job security in his new deal with the Detroit Red Wings.

The 2018 first-round pick was signed to a two-year, $4.55 million deal, avoiding arbitration, the club announced Saturday. Veleno was coming off a one-year deal making $825,000.

Veleno, 24, had 28 points and a minus-16 rating in 80 games last season. Of his 12 goals, eight were scored during the first half. Veleno spent the season centering the third or fourth line, but, thanks to his speed, he was given an opportunity in the top six in mid-March when Dylan Larkin was unavailable.

Detroit Red Wings center Joe Veleno (90) battles the puck against Carolina Hurricanes defenseman Brady Skjei (76) during the first period at Little Caesars Arena in Detroit on Thursday, Dec. 14, 2023.

With Veleno’s deal coming in at a $2.275 million annual average value, the Wings have about $17 million left in salary cap space. That should be just enough to sign the two biggest restricted free agents — neither of whom has arbitration rights — in defenseman Moritz Seider and Lucas Raymond. They project to come in around $16 million combined. Forward Jonatan Berggren also needs a new deal.

Berggren and Veleno joined the Wings organization in the 2018 draft, in which the Wings took Veleno at No. 30 and Berggren at No. 33. Their top pick that year, Filip Zadina (No. 6), asked for his contract to be terminated during the 2023 offseason after being unable to establish a foothold in the Wings’ lineup. He spent last season with the San Jose Sharks, but has yet to sign with an NHL team this summer.

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