Oilers agree to terms with Justin Schultz on 1-year deal worth reported $3.9M

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The Edmonton Oilers have avoided arbitration with defenseman Justin Schultz.

The Oilers signed Schultz to a one-year contract Wednesday.

"It gives me another year to prove what I've got and hopefully that turns into a long-term deal in Edmonton," Schultz said.

Sportsnet's Elliotte Friedman reported earlier in the day that the deal is worth $3.9 million.

The two sides were scheduled for a club-elected arbitration hearing on July 24.

Schultz was a restricted free agent who tallied 31 points in his third season with the Oilers. The 25-year-old carried a cap hit of $3.675 million in 2014-15.

He was a second-round pick of the Anaheim Ducks in 2008.