Schmidt's agent is hopeful that Schmidt and the team can get a deal done prior to his scheduled arbitration hearing in early August, Steve Carp of the Las Vegas Review-Journal reports.

EDGE Analysis

The rearguard made $875,000 with the Capitals last season, recording three goals, 17 points and an impressive plus-22 rating in 60 games. Considering Schmidt's production came in a career-low 15:29 of ice time and would amount to 23 points over a full season, he's definitely due for a raise -- especially given his status as Vegas' de facto top defenseman. He was extended a qualifying offer prior to the expansion draft in June, but the offer came from Washington. Nonetheless, the two sides will have until Aug. 3 to come to terms on a new deal before Schmidt's pending arbitration hearing takes place.