According to the Detroit Red Wings Official Twitter account:
Red Wings GM Ken Holland announced the club has signed forward Landon Ferraro to a three-year, entry level contract.
Ferraro, the son of retired NHL player and current Analyst for TSN Ray Ferraro, was drafted 32nd overall in the 2009 NHL Entry Draft by the Detroit Red Wings. He was drafted in the 2nd round but the first overall pick of the Red Wings.
The native of British Columbia, Canada is a center that played the majority of the 2009-10 season with the Red Deer Rebels in the WHL. He posted 16 goals and 30 assist in 53 games played. Ferraro then finished the season with the Grand Rapid Griffins – The Red Wings AHL affiliate team.
So far this season Ferraro has played in 13 games with the Everett Silvertips (WHL) and has 5 goals and 6 assist with a plus-4 rating.
I will update with more information as it is available.