The moves put the Rangers near the NHL salary cap of $81.5 million but also had Shattenkirk looking forward to the season.
"The ability to start training without any injuries nagging me, that's amazing," he said June 23. "Last summer, I was so focused on rehab. But I think the excitement around our team over the last month or two, it drives you as a player. We're going to be better a lot sooner than people think. That always makes it fun."
Shattenkirk reportedly turned down more lucrative offers two offseasons ago to sign with New York after growing up a Rangers fan in New Rochelle, New York.
The Rangers did not make the Stanley Cup Playoffs in either of Shattenkirk's seasons after making them for seven straight seasons and 11 of 12.
"I don't think we could've predicted the way that things went down, and that's probably been the tougher side of things, the turn the organization made (to a rebuild)," he said. "But it needed to be done. ... It was a sting at first, but now things look so bright and it's fun to be a part of something that's being built from the ground up."
Shattenkirk, who was selected by the Colorado Avalanche in the first round (No. 14) of the 2007 NHL Draft, has 349 points (75 goals, 274 assists) in 609 regular-season games with the Avalanche, Blues, Capitals and Rangers, and 34 points (five goals, 29 assists) in 60 Stanley Cup Playoff games.