Rangers, J.T. Miller avoid arbitration with new deal

For the Rangers, it's now one down, three more to go.

At least in terms of getting their restricted free agents with arbitration rights signed to new deals.

Wednesday, forward J.T. Miller, almost certainly the Rangers' most improved player last season, avoided arbitration and agreed to terms on a new deal. It's a two-year deal worth $5.25 million with an annual average value (salary cap hit) of $2.625 million. Miller's salary will be $2.5 million this season and $2.75 million in 2017-18.

Miller, 23, was one of four Rangers to file for arbitration along with forwards Chris Kreider and Kevin Hayes and defenseman Dylan McIlrath.

Miller had an arbitration hearing set for Aug. 2 in Toronto. McIlrath's hearing is July 21, Kreider is set for July 22 and Hayes will have his hearing on July 27.

In the unlikely case that the Rangers don't settle on deals with the other three as well. The Rangers have not had a player go to arbitration since Nikolay Zherdev in 2009, when the Rangers walked away from a $3.9 million award, making Zherdev an unrestricted free agent.

Miller had his best season as pro _ and his first full one with the Rangers _ as he set career highs with 22 goals and 21 assists in 82 games as he worked on a one-year deal worth $874,000.

He's scheduled to compete in the upcoming World Cup of Hockey for Team North America. Miller, selected 15th overall in 2011, is from East Palestine, Ohio.

It's not unusual for deals to come in quick succession when it comes to restricted free agents so it wouldn't be surprising if the Rangers announce further deals in the near future.

Of the remaining trio, Kreider will likely be the trickiest.

Kreider, 25, matched a career high with 21 goals and added 22 assists in 79 games as he completed a two-year, $4.95 million deal. Kyle Palmieri's five-year, $23.25 million deal with the Devils could be used as a comparable, though the $4.65 million cap hit is likely higher than the Rangers want to go with Kreider.

The Rangers now have approximately $9.8 million remaining in salary cap space.