Restricted free agent
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In the National Football League, a restricted free agent is one with three accrued seasons of service. He has received a "qualifying" offer (a salary level predetermined by the Collective Bargaining Agreement between the league and its players) from his old club. He can negotiate with any club through a certain date. If the restricted free agent accepts an offer sheet from a new club, his old club can match the offer and retain him because it has the "right of first refusal." If the old club does not match the offer, it can possibly receive draft-choice compensation depending on the amount of its qualifying offer. If an offer sheet is not executed, the player's rights revert to his old club the day after negotiations must end.
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[edit] Tender amounts
In 2007, a second-round tender offer was added. The four tender amounts were as follows:
- Low tender -- $850,000
- Second-round tender -- $1.3 million
- First-round tender -- $1.85 million
- First- and third-round tender -- $2.35 million
Each player that signs their tender receives the one-year salary that corresponds with the tender level. Teams which choose not to match an offer on a player with a low tender receive a draft pick corresponding to the round in which the player was originally drafted. (For example, a former seventh-round pick requires a seventh-round pick in compensation is signed away in restricted free agency). Undrafted players require no draft-pick compensation on a low tender, meaning teams with a valued undrafted player are taking a notable risk if they place a low tender on them.
[edit] Examples of possible outcomes
In addition to the following outcomes, if a player does not receive an offer sheet from his original team, he becomes an unrestricted free agent. If a player signs the offer sheet from his original team, he remains with that team.
[edit] Team declining to match offer sheet
- Carolina Panthers cornerback Ricky Manning, Jr. was a restricted free agent in the 2006 offseason. Based on the tender placed on Manning by the Panthers, the team would receive a third-round pick in the NFL Draft if Manning signed with another team. On April 21, the Chicago Bears signed Manning to an offer sheet - a five-year contract worth up to $23 million. Although the Panthers had a full week to decide if they wanted to match the offer sheet, they announced on April 24 that they would not match. At this time, Manning became a member of the Bears and the Panthers received a third-round draft choice from Chicago.
[edit] Team matching offer sheet
- Arizona Cardinals offensive guard Reggie Wells was a restricted free agent in the 2006 offseason. On March 17, the Buffalo Bills signed him to an offer sheet - a five-year deal worth approximately $18 million. Four days later on March 21, the Cardinals matched the Bills' offer sheet for Wells, and he reverted to the Cardinals.
