What will Fenton do with the team's unrestricted free agents, forward Eric Fehr and defensemen Brad Hunt and Anthony Bitetto?
If he signs one or more of those players, that will eat into that $12 million. If not, that's a significant amount of money to go shopping with on July 1.
Among those scheduled to be unrestricted free agents this summer are forwards Artemi Panarin, Jordan Eberle, Matt Duchene, Jeff Skinner and Joe Pavelski, defensemen Erik Karlsson, Tyler Myers and Alexander Edler and goaltenders Semyon Varlamov and Mike Smith.
The belief is that Panarin and Bobrovsky could be targets for the Florida Panthers, where they would play for Panarin's old coach in Chicago, Joel Quenneville, who was named Panthers coach last week.
Another route the Wild could take would be that of restricted free agency.
While there has been an unspoken agreement of sorts between GMs to remain hands off, teams like the Toronto Maple Leafs and Winnipeg Jets could be in unenviable positions when it comes to signing their own RFAs.
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That could open the door for others with more salary cap flexibility to sign restricted free agents like Mitch Marner, Patrik Laine or Jacob Trouba to giant offer sheets and make life increasingly difficult for those clubs.
Those clubs will have first right of refusal, of course, and signing these players would require surrendering draft pick compensation, but for the first time in many years, the restricted market could be one teams choose to dabble in.
Whether Fenton is open to this possibility or not is unknown, but expect him to leave no stone unturned when it comes to finding young talent.