A restricted free agent is a professional athlete who plays in the KHL, NFL, NHL, or NBA. Such players have special restrictions on the terms under which they can retain or change employment status with their athletic club teams.
In the National Football League, a restricted free agent (RFA) is one with three accrued seasons of service, who has received a "qualifying" offer (a salary level predetermined by the Collective Bargaining Agreement between the league and its players) from his current 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 has "right of first refusal," a seven-day period in which it may match the offer and retain him, or choose not to match the offer, in which case it may receive one or more draft picks for the upcoming draft from the player's new club. If an offer sheet is not executed, the player's rights revert to his old club the day after negotiations must end.
In 2007, a second-round tender offer was added. The four tender amounts for 2008 are as follows:
Each player that signs a tender receives the one-year salary that corresponds to 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 (except that the highest pick that can be surrendered for such a tender is a... Read More