It's a two-way deal. Money as of this writing has yet to be reported.
The Red Wings' most pressing need going into free agency was a top-4 defenseman, and the organization was intent on finding a right-handed shooting defenseman at that. Kevin Porter fills exactly zero of those needs. But at least he shoots left! And is a center! And went to the University of Michigan!
Kevin Porter == Cory Emmerton?— DetroitHockey.Net (@detroithockey96) July 1, 2014
Porter will likely spend the season in Grand Rapids with a potential call-up in the event of injury. Depending on how the Red Wings plan to use Porter, this may not turn out to be a terrible signing per se. The timing of it, however, signals troubling issues on management's game plan for July 1. Kevin Porter is not a July 1 signing. There are Kevin Porter-type players to be had much later into free agency, even right up against the start of the season if need be. Just as Petr Mrazek didn't need to be extended the first day he could be, there's no reason Kevin Porter needed to be sought after and signed by today.