Welcome back, everyone! Free Agent Frenzy has arrived, which means two things: happy Canada Day to all my friends up north, and more of course, free agent signings! If your league chat is anything like mine, you knew we were headed for a chaotic July 1st. This week, we're focusing on the big names — the signings (so far) that sparked the reactions, memes, and GIFs flooding your group chats.

For now, I'm only covering deals that have been confirmed by the league (Elliotte, cough), and this is written as of 3 p.m. Central. Anything that breaks later tonight will roll into next week's edition. We'll circle back to the trades made before the deadline in a future Capped.

I won't speculate on contract numbers or future destinations, but it's worth addressing Dylan Larkin, Zach Werenski, and Jason Robertson. These guys matter for your fantasy planning, and their situations could reshape your offseason strategy. My read: Larkin gets moved later this summer, Werenski stays put (as outlined in his statement), and Robertson and the Stars end up in arbitration — which, honestly, I'd love to witness. That whole situation prevented Dallas from locking in a number for Mavrik Borque, ultimately leading to the trade with Nashville.

Bowen Byram (25 yrs old) signs a 6-year contract with the Chicago Blackhawks at a $12.5M cap hit ($75M Total)

When one Seth Jones contract leaves, another one arrives. Fittingly, it comes via trade with the same GM who sent Jones to Chicago — and who was also on the other side of the Artemi Panarin deal. But who's keeping score, right?

As a 'Hawks fan, I have to start with Bowen Byram. I'll try to keep the fan in me reserved for Hawk Talk and stay fantasy‑focused here.

Here's a list of NHL defensemen who currently make more than Bowen Byram:

Nobody.

If I'm Quinn Hughes or Cale Makar's agent, I'm calling Kyle Davidson personally to say thank you. Chicago had to extend Byram after trading the fourth overall pick for him, and they certainly did. At this point, swapping bad contracts and taking on Darnell Nurse might've been cleaner — and there I go again, slipping into Hawks‑fan mode.

I don't roster Byram, but I can imagine the headache for anyone who does. You now have to make room for a double‑digit cap hit. The one fantasy‑relevant point in his favor is ice time: he led the Sabres in TOI two seasons ago and finished second last year. That's the clearest path to production. He was fine in the playoffs, but in my league, he was involved in trade talks that looked more like the Colorado‑for‑Casey‑Mittelstadt deal than a fourth‑overall‑pick‑plus‑extras valuation.

From a fantasy standpoint, this is rough. Managers are boxed in by a number you can only hope he lives up to. And yes, this also tightens the cap picture for Chicago when the inevitable Connor Bedard offer sheet conversation comes around. Make the call again, Buffalo.

Alright — enough Blackhawks. And no, we're not covering Ian Cole here. You don't want that. I don't want that.

Ivan Demidov signs an 8-year contract with the Montreal Canadiens at a $9.15M cap hit ($73.2M Total)

I get the argument for Ivan Demidov waiting until the end of next season to sign — more leverage, more money, more term. But this is tidy, efficient work by the Habs. There's some risk, sure, but we're talking about an electric offensive talent who's ready for a bigger role right away.

Demidov's $9.1 million cap hit is probably a bit lower than most fantasy managers expected, and having a player with his upside who's LW/RW eligible in many formats is a huge bonus.

He finished last season with 62 points, but there's a very real world where he pushes toward 80 — maybe even the mid‑80s — with two extra games on the schedule and an expanded role on Montreal's power play. He averaged just 15:30 per game last year, so it's safe to assume that climbs into the 17- to 18-minute range, even with Montreal's forwards generally logging lower ice time.

Demidov had 12 multi‑point games last season, and his skill set absolutely supports repeating that level of production. He's going to be a fun fantasy piece to roster, and at a number that's more than reasonable for the duration of his contract.

Sergei Bobrovsky signs a 3-year contract with the Maple Leafs at a $7M Cap Hit ($21M Total)

I get the skepticism. Sergei Bobrovsky wasn't anywhere near the level we've come to expect from him last season, and my league wasn't thrilled about this signing either, but hear me out for a moment.

League‑wide save percentage last year was .896. Bobrovsky finished below that, yes — but if this turns into a tandem with Dennis Hildeby and Anthony Stolarz is the goalie who gets moved (or simply stays as depth), why couldn't we see Bob settle into 50–52 starts at a .910–.912 clip? Toronto's biggest issue last season was getting the puck out of their own end, and that should improve. Better exits mean less chaos, fewer scrambles, and less stress on the goaltending.

He's also coming in at a number that's $3 million lower than before. Florida was obviously a great environment for wins, but this Leafs team should be improved enough that Bobrovsky becomes a reliable start most nights. I don't see this as Ilya Samsonov 2.0 — more like a short‑term, steady fantasy option who can give you solid production next season.

Rasmus Andersson signs a 7-year contract with the Golden Knights at an $8.5M cap hit ($59.5M Total)

After trading away a first‑round pick to acquire Rasmus Andersson, it always felt unrealistic that Vegas wouldn't do everything possible to keep him. The cap hit will draw some scrutiny, but honestly, this might just be the going rate for a true top‑pair defenseman now.

I wrote last season about how much I liked Andersson's fantasy profile when he was dealt, and nothing has changed. He's a 50‑point defenseman who fits perfectly into fantasy builds. I love constructing rosters with scoring from the dot and the blue line, and it's increasingly tough to find affordable offense on the back end. Your D‑core can turn into a revolving door of waiver‑wire names pretty quickly, so anytime you can lock in a defenseman with real offensive upside, it's worth celebrating.

I'd much rather absorb a higher AAV for Andersson than burn $4–$6 million on a waiver add who gives you nothing. This is one of those situations where paying the premium makes your fantasy roster better, not worse.

Nico Hischier signs a 5-year contract with the Devils at an $11.7M Cap Hit ($58.5M Total)

Is this a fair deal for Nico Hischier? Yes — I think it is. For one of the league's most underrated players, this checks out. And while the fantasy angle of a higher AAV might not be ideal, there's still real upside here.

I do wish New Jersey were more consistent with their lines — that would make life easier for fantasy managers — but Hischier remains a perfectly solid roster piece. His scoring dipped last season, which doesn't look great next to an $11.7 million cap hit, but he did play all 82 games, something that's been tough for him historically. His 5v5 shooting percentage took a hit with inconsistent line mates at times, but that could be the sign of bounce‑back potential rather than decline.

If the Devils generate more offense around him, you're likely looking at a 77- to 80‑point player shooting closer to 14%. It's also encouraging that he posted nine power‑play points in his final 20 games of the season — a sign he can still drive production when the opportunity is there.

*Salary Cap data from PuckPedia

For continued fantasy news and notes, follow me on Twitter @ndySanz.