Joe Veleno signs new NHL deal just weeks after contract buyout!

A few days prior to the opening of free agency, the Seattle Kraken placed forward Joe Veleon on unconditional waivers for the purposes of a buyout with a year remaining on his contract. He was entering the final season of a two-year, $4.55 million deal he signed with the Red Wings in July of 2024. The Kraken are expected to receive $1.48 million of cap relief after the buyout.

Veleno had landed in Seattle in a trade from the Chicago Blackhawks on June 21 in exchange for forward Andre Burakovsky. In all, Veleno was traded twice this past season when he was sent to Chicago by the Detroit Red Wings in exchange for goaltender Petr Mrazek and forward Craig Smith prior to the trade deadline.

Once his contract was bought out by the Kraken, Veleno became a free agent and on Wednesday, Elliotte Friedman has reported that he is now heading to Montreal to play for the Canadiens on a one-year deal.

Per Tony Marinaro, the deal is expected to be worth "Around 900k…"

Veleno recorded eight goals and 17 points in 74 games split between the Red Wings and Blackhawks last season. He was selected 30th overall by the Red Wings back in 2018 and has put up 38 goals and 81 points in 306 career games split between the Red Wings and Blackhawks.

This is a return home for the Montreal native, who could benefit from the change of scenery and this second shot at making an impact on the bottom six in the NHL.

Moments later, the Habs made the official announcement: " Montreal Canadiens general manager Kent Hughes announced on Wednesday that the team has agreed to terms on a one-year, one-way contract with forward Joe Veleno."