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Free agent. In professional sports, a free agent is a player or manager who is eligible to sign with other clubs or franchises; i.e., not under contract to any specific team. The term is also used in reference to a player who is under contract at present but who is allowed to solicit offers from other teams.
Restricted free agent. A restricted free agent ( RFA) is a type of free agent in the National Football League (NFL), National Hockey League (NHL), or National Basketball Association (NBA). Such players have special restrictions on the terms under which they can retain or change employment status with their athletic club teams.
Free agency (Major League Baseball) Free agency in Major League Baseball (MLB) concerns players whose contracts with a team have expired and who are therefore eligible to sign with another team. Free agents may be eligible for pendulum arbitration, also called "salary arbitration" or just "arbitration" in baseball circles.
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There are several kinds of NHL free agency, but generally the free agent pool in the NHL is split into restricted and unrestricted free agents. All contract signings can be of up to seven years (eight if re-signing with their current club) as long as the averaged annual salary (plus bonuses) will fit under the team's salary cap, and the 50 ...
Franchise tag. In the National Football League (NFL), the franchise tag is a designation a team may apply to a player scheduled to become an unrestricted free agent. The tag binds the player to the team for one year if certain conditions are met. Each team has one franchise tag (of either the exclusive or non-exclusive forms) and one transition ...
In the National Basketball Association (NBA), a sign-and-trade deal is a type of transaction allowed by the collective bargaining agreement (CBA) where one franchise/team signs an unrestricted free agent or restricted free agent player to a new contract, only to then immediately trade him to another team of the player's choosing.
The highly contentious negotiations between National Hockey League owners and players that led to a lockout, wiping out the entire 2004–05 NHL season, were in part about free agency; the previous system precluded unrestricted free agency before the player reached 31 years of age. Most younger hockey free agents were restricted free agents ...