Bought by Athletic Bilbao from lowly Peña Sport FC in 2003, he spent time with the club's B and farm teams, subsequently being loaned to neighbours Barakaldo CF in the Segunda División B.
[2] After spending the second part of 2007–08 on loan to Segunda División's Hércules CF,[3] where he featured significantly – after his debut with the Alicante side, he managed to play, in the same season, in the three major levels of Spanish football[4]– Vélez was definitely promoted to Athletic's first team for 2008–09.
[6] On 19 January 2011 he moved to CD Numancia from division two on loan, reuniting with former Athletic teammate and namesake Iñigo Vélez.
[7][8] In late July, after being deemed surplus to requirements by new manager Marcelo Bielsa, he terminated his contract at the San Mamés Stadium and signed for Girona FC of the same tier, with his former club having a rebuying option at the end of 2011–12.
[9] On 3 October 2011, during an away league fixture against Xerez CD, Velez collided with opponent goalkeeper Toni Doblas, suffering an extremely serious injury to his right knee that sidelined him for several months.