In the 2006-2007 season, Velić was hired as a scouter for Panathinaikos, but after the sacking of Hans Backe, he was appointed as head coach for three games, from 15 September to 6 October, winning two of them and earning one draw.
In the 2007-2009 period Velić worked as a technical manager next to head coaches José Peseiro and Henk ten Cate, helping the club to make its return to the UEFA Champions League Group stages.
Velic was one of the youngest players ever in the history of Sarajevo to make a debut in the Yugoslavian Football League at the age of 18.
In the 2006-2007 season, Velić was hired as a scouter for Panathinaikos, but after the sacking of Hans Backe, he managed the Club as a head coach for three games (15/9/2006 to 6/10/2006 - 2 wins, 1 draw).
On August 5, 2015, Velić was appointed head coach of fellow Cretan Football League club Ergotelis.