Justin Schultz re-signs with Penguins

The Pittsburgh Penguins have re-signed defenseman Justin Schultz to a one-year, $1.4 million contract, the team announced Wednesday.

Schultz, 26, was a major contributor to the team's 2016 Stanley Cup finals victory over the San Jose Sharks in June. He posted four assists and had a plus-1 rating in 15 playoff games.

The Penguins acquired the 6-foot-2, 193-pound blueliner from the Edmonton Oilers in exchange for a 2016 third-round pick on Feb. 27.

Heading into this offseason, it was unclear whether the Penguins and general manager Jim Rutherford would be able to retain Schultz because of salary-cap issues.

With the signing, the Penguins now have less than $3 million in projected cap space, according to cap-crunching website GeneralFanager.com.