The New York Rangers and defenseman Braden Schneider have avoided arbitration, agreeing to a one-year contract worth $5.5 million in average annual value, according to The Post's Mollie Walker. The deal was finalized Monday.

Schneider, the Rangers' first-round pick in 2020, became a restricted free agent when his previous two-year, $4.4 million contract expired. He was reportedly set for an arbitration hearing on July 29. He will again be a restricted free agent next summer.

Despite the agreement, the contract does not provide long-term clarity regarding Schneider's future with the team. He played in all 82 games last season, recording two goals and 18 points. At the end of the previous season, Schneider expressed a desire to remain with the Rangers.

"We think Braden is a really good young talented defenseman," Rangers President and General Manager Chris Drury told reporters on July 2. "We drafted him, developed him, we like the skill set and what he does for us. I know he, along with us, are just trying to do everything we can to be better and help him be better, but he’s an exciting player and a terrific all-around high character person in our organization."

The Rangers have also made other changes to their blue line. Sean Durzi was acquired as part of the Vincent Trocheck trade, and Marcus Pettersson was acquired from Vancouver. Will Borgen was traded to the Boston Bruins in exchange for draft picks.