Vegas has five restricted free agents (forwards William Karlsson, Tomas Nosek and William Carrier, and defensemen Colin Miller and Shea Theodore) and six unrestricted free agents (forwards Neal, Perron, Reaves and Mikhail Grabovski, and defensemen Sbisa and Clayton Stoner).
Neal, 30, had 44 points (25 goals, 19 assists) in 71 regular-season games and 11 points (six goals, five assists) in 20 games in the Stanley Cup Playoffs, helping Vegas reach the Stanley Cup Final in its inaugural season.
Perron, 30, had 66 points (16 goals, 50 assists) in 70 regular-season games and nine points (goal, eight assists) in 15 playoff games.
Reaves, 31, had two assists in 21 regular-season games with Vegas and two goals in 10 playoff games.
Sbisa, 28, had 14 points (two goals, 12 assists) in 30 regular-season games and four assists in 12 playoff games.
McPhee said he is a big proponent of using analytics in making offers to players.
"There are certain things it tells you and you better pay attention to it," he said. "It makes things easier. Sometimes you feel a certain way about a player and then you get all the data and it makes the decision for you. When it comes to this stuff, it's hard sometimes to take the emotion out of it. But you have to be more analytical and a little more clinical and just pay attention, make decisions according to that, especially in a (salary) cap world.
"You just don't have the flexibility to do what you'd like to do all the time."