Sportsnet’s Elliotte Friedman reports that it’s worth $2.2 million per season.

Last season, the 22-year-old defender scored five goals and 14 assists for 19 points and 16 penalty minutes, averaging 15:54 of ice time in all 82 regular-season games.

Taken No. 19 overall by the Rangers in the 2020 NHL Entry Draft, Schneider spent a chunk of the 2021-22 with the Rangers’ AHL affiliate, the Hartford Wolf Pack, recording nine assists in 24 games. He would be called up by the Rangers and spend half the season with the big club.

Since then, he’s played all but one regular-season game with New York through two seasons. So far, he’s scored 12 goals and 36 assists for 48 points in 206 career regular-season NHL games, averaging 15:44 of ice time in that span.

Internationally, Schneider played for Canada at both the 2021 World Championships and the 2021 World Junior Championships, winning gold in the former and silver in the latter. He also represented Canada with their Under-18 squad at the 2018 Hlinka Gretzky Cup, winning gold.

Last season, the Rangers went 55-23-4, first in the Metropolitan Division and would end up being the Presidents’ Trophy winners for the best regular-season record in the entire league.

Forward Artemi Panarin led the team in scoring with 49 goals and 71 assists for 120 points, putting him among the league leaders is points. Defenseman Adam Fox produced another 70-point campaign, finishing with 17 goals and 56 assists for 73 points.

Goaltender Igor Shesterkin finished with a 36-17-2 record, a .913 SV% and 2.58 GAA, along with four shutouts. Backup Jonathan Quick had a great comeback season, going 18-6-2 with a .911 SV% and 2.62 GAA.