Kraken waive Veleno for buyout; Lightning's Sheary terminating deal

The Seattle Kraken placed forward Joe Veleno on waivers for the purpose of a buyout, while Tampa Bay Lightning's Conor Sheary hit waivers Sunday to have his contract mutually terminated.

The Kraken acquired Veleno from the Chicago Blackhawks for forward Andre Burakovsky on June 21. He tallied eight goals and 17 points in 74 games last season between the Detroit Red Wings and Blackhawks.

Buying out the 25-year-old saves Seattle $1.48 million against the cap next campaign and leaves a cap hit of just under $300,000 in 2026-27. The buyout costs one-third of Veleno's remaining salary as he's under the age of 26.

Veleno has 38 goals and 81 points in 306 career games. He notched a career-high 12 goals and 28 points in 2023-24 with Detroit. Drafted 30th overall in 2018 by the Red Wings, Veleno was the first and remains the only QMJHL player granted exceptional status in 2015.

Sheary had one season left on his contract at a $2-million cap hit and walked away from $1.5 million in salary to end his deal. He requested to have his contract terminated so he could pursue an opportunity in the NHL, according to Sportsnet's Elliotte Friedman.

The 33-year-old registered 20 goals and 61 points in 59 AHL games last season with the Syracuse Crunch. It was the first time Sheary played in the minors since the 2015-16 campaign. He also suited up for five games with the Lightning and didn't record a point.

Sheary managed four goals and 15 points in 57 games in 2023-24 with Tampa Bay. He's accrued 124 goals and 267 points in 593 career contests between the Pittsburgh Penguins, Buffalo Sabres, Washington Capitals, and Lightning.