Buyout Still Possible for Red Wings’ Holl? Veleno Also Candidate

Detroit Red Wings Steve Yzerman talked like he may not buy out any players this summer but Daily Faceoff is writing that he still might.

Frank Seravalli’s list of potential NHL buyouts includes Detroit defenseman Justin Holl.  But Seravalli’s more surprising projection is that Joe Veleno’s Chicago Blackhawks career might be over after 18 games.

While Seravalli says there is no guarantee that Veleno will bought out, but “he’s still a candidate as Chicago sorts out what their forward group looks like next season and beyond.”

The fact that the Blackhawks are considering a buyout is not a good sign for Veleno who didn’t live up to expectations in Detroit.  The Red Wings wanted to move his contract to Chicago last spring to reduce the salary cap impact of acquiring goalie Petr Mrazek ($4.75 million).

Veleno Buyout Possible

Veleno, 26, put up three goals and seven points and was minus-9. He is the youngest player on Daily Faceoff’s list. Because Veleno is under 26, the Blackhawks can buy him out at one-third of his $2.275 million salary, instead of two-thirds  of it.

With Veleno holding arbitration rights the previous summer, the Red Wings paid Veleno more than they wanted to on a two-year deal. It seemed like they regretted the contract almost as soon as it was signed. It didn’t help that Veleno only had 10 points in 56 games at the time of the trade.

In fairness to Veleno, it still hard to understand why the Blackhawks need to buy out Veleno. Teams usually buy out players to enhance their salary their salary cap outlook. The Blackhawks boast more than $29 million in available cap space. Do they really need the Veleno savings?

Veleno has skating ability and he plays physical.  Unless they need the roster spot for a youngster, he still seems like he could be a credible role player.

Red Wings May Need More Cap Room

Meanwhile, in Detroit, there is a chance that Yzerman might need more cap space than the $21 million he has going into the summer. He still needs to sign UFA Patrick Kane, plus RFAs Albert Johansson, Elmer Soderblom and Jonatan Berggren. (It seems possible that Berggren could end up traded if the Red Wings make a major deal.)

While the fan base has been disappointed in Holl, the coaching staff appreciates how he can help. He had periods of quality defense in the second half of the season.

The Red Wings also are looking to add at least two impact players either in the free agent market or through trade. That’s why $21 million may not be enough.

Holl’s contract has one season left at $3.4 million. His buyout is $1.133 per season for the next two season. That would give them an additional $2.2 million plus to work with this summer. That might come close being enough to pay Soderblom and Johansson.