J.T. Miller, Rangers Agree to New Contract: Latest Details, Comments, Reaction

The New York Rangers reportedly agreed to terms with J.T. Miller on a two-year extension worth $2.75 million annually, per the Associated Press (via FoxSports.com) and the New York Post's Larry Brooks.

The Rangers confirmed they re-signed Miller but didn't specify the terms. The deal allows the team to avoid having to go to arbitration regarding Miller's contract.   

The 23-year-old is coming off the best season in his four-year NHL career. Miller appeared in every game last year for the Rangers across the regular season and postseason. He registered 22 goals and 24 assists. His 43 points in the regular season tied Chris Kreider for fifth-highest on the team.

Adam Herman of SB Nation's Blueshirt Banter is a fan of the move:

As Brooks wrote, keeping Miller's cap hit low was important for the Rangers given how much offseason business they still need to conclude:

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The Blueshirts have approximately $9.95 million of cap space remaining with which to sign restricted free agents [Kreider], Kevin Hayes and Dylan McIlrath and add two forwards to start the season while Oscar Lindberg opens the year on long-term injury while rehabbing from postseason hip surgery. This assumes a roster that includes Pavel Buchnevich.

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The drawback of a two-year deal for Miller, of course, is that the team could have to pay out big to retain him down the road. As long as he continues building on his success from last year, he'll fetch far more than $2.6 million on the open market in 2018.

New York is saving money in the short term, but the long-term costs could be much greater than if it had instead extended Miller for more than two years.