That immediately makes them part of a core group signed for at least the next three seasons, a group that includes captain Blake Wheeler, as well as Mark Scheifele, Nikolaj Ehlers, Kyle Connor, Josh Morrissey, Adam Lowry, Dylan DeMelo, and Connor Hellebuyck.
"Talking to the guys that are on the team here, over the last 24-48 hours, there is a level of excitement that is in their voices and is in their thinking that we haven't had since maybe the 2018-19 year," said Cheveldayoff. "The level of excitement and the level of anticipation of the season, with these two guys added to our core, I had guys telling me they're excited to go train, excited for the season. I think they believe and certainly I believe in them."
Of course, the NHL is also a business. So to make the numbers work for Schmidt and Dillon - as well as Paul Stastny, who re-upped for another season on Monday at a $3.75 million deal - the Jets had to watch some familiar faces move to other teams.
Players like Derek Forbort, Laurent Brossoit, Trevor Lewis, and Nate Thompson signed contracts with Boston, Vegas, Calgary, and Philadelphia respectively. Tucker Poolman - who the Jets drafted in the fifth round of the 2013 NHL Draft - signed a four-year contract with the Vancouver Canucks as well.
"He's just such a good person. The hard parts about making the deals we did was we knew there was going to have to be change," Cheveldayoff said of Poolman.
"Just so happy for him. I'll give him a call later today. I'm happy for the deal he earned and the opportunity that's in front of him. We certainly wish him all the best."
Brossoit's departure also means Eric Comrie - signed to a one-year deal yesterday - has earned the opportunity to back up Hellebuyck in 2021-22.
"Eric's time has come," said Cheveldayoff of Comrie, who became the Manitoba Moose all-time leader in goaltending wins with 85 last season.
"He's gone through the trials and tribulations of being a top end American Hockey League goaltender and trying to push past some of the veteran hockey people in front of him," Cheveldayoff said. "He's a great partner for Helly. There is a real strong chemistry between the two. Helly had a good say in this from the standpoint of who he felt comfortable having as a backup. Wade Flaherty is real comfortable Coms is the guy that can take that next step."
There is still work to be done for Cheveldayoff. While the opening of Free Agency can sometimes feel like the final 'big event' on the hockey calendar, it's actually a process that continues throughout the summer.
Restricted free agents Pionk, Stanley, and Andrew Copp await new deals, although the Jets extended qualifying offers to all three (as well as Manitoba Moose defenceman Johnathan Kovacevic) prior to Monday's deadline.
That work will continue the minute Cheveldayoff wakes up on Thursday, as he hopes to get those three RFA contracts complete.
There is always more work to do, but at this point of the off-season, Cheveldayoff loves where the team is at.
"Certainly, from the onset, if you could've had a wish list and just put it up on the wall, I don't know if it could have fallen into place any better with how it complements the defence we have in place already," said Cheveldayoff. "Just the level of excitement, the level of anticipation of getting started. It's one of those things, you'd like to get started tomorrow."