Super Bowl 58 is history, and the NFL season is now over. The players may now have time for a break, but work off the pitch is in full swing. The new league year starts in mid-March and with it the free agency. sport.de explains everything you need to know!
What is Free Agency?
In principle, free agency is the transfer window for players, which plays a major role, especially at the beginning of the new league year. Then the players’ contracts expire. The players without a contract are called free agents and have the freedom to choose a team.
However, this system has only existed for 30 years. At the beginning of the NFL there were no free agents at all, the only way to move was through a trade. Later the rules were gradually relaxed a bit, but none were really fair or sustainable. However, it took until 1994 for the current system to come into force.
When does free agency start?
The new league year officially starts on March 13th and with it free agency officially starts. However, the unofficial start is on March 11th. From then on, the consultants of the unrestricted free agents (see next section) are allowed to enter into negotiations with the teams. However, a signature is not permitted until March 13th.
Before March 11th, contact or negotiations between teams and advisors/players are taboo.
From February 20th to March 5th, however, the teams first have the opportunity to send players with one Franchise tag or transition tag to bind.
What types of free agents are there?
Overall, the NFL distinguishes between four different types of free agents:
Unrestricted free agent
The majority of players. Any player whose contract has expired and who has previously accumulated at least four years in the league is considered an unrestricted free agent. Unrestricted free agents, as the name suggests, are allowed to negotiate with all teams without restrictions.
Restricted free agent
Restricted free agents also have this right, but the original team can first tie the player to them with a tender, a standardized offer. Should the actor reject this tender and come to an agreement with another team, the original team has the opportunity to match this offer, i.e. to offer the same thing. If the player also rejects this offer, the team will receive compensation for the move in the form of a draft pick.
Players who have three NFL years under their belt and are without a contract are considered restricted free agents.
Exclusive Rights Free Agent
An even more special case are exclusive rights free agents, i.e. players who have played fewer than three NFL seasons. If the original team offers a one-year contract with the mandatory minimum salary, the player is not allowed to negotiate with other teams.
Undrafted free agent
Fourth, there are the undrafted free agents. These are of no interest at the start of free agency because, as the name suggests, these are the players who registered for the NFL Draft but were not selected by the teams in the seven rounds. After the draft ends, players are allowed to negotiate freely with teams.
Which top players will become free agents?
At the start of free agency, some of the NFL’s top stars will also be without a contract. The packed list of free agents currently includes:
- Chris Jones (Kansas City Chiefs)
- L’Jarius Sneed (Kansas City Chiefs)
- Saquon Barkley (New York Giants)
- Derrick Henry (Tennessee Titans)
- Josh Allen (Jacksonville Jaguars)
- Kirk Cousins (Minnesota Vikings)
- Tee Higgins (Cincinnati Bengals)
- Antoine Winfield Jr. (Tampa Bay Buccaneers)
- Michael Pittman Jr. (Indianapolis Colts)
- Daniel Hunter (Minnesota Vikings)
- Mike Evans (Tampa Bay Buccaneers)
- Tyron Smith (Dallas Cowboys)
What is the cap space?
The so-called cap space is particularly important for free agency, because of course the new players also have to be paid. Simply put, cap space is the money that teams have available to pay the salaries of their new players.
“Over The Cap” summarizes the composition of Cap Space as follows: Team salary cap minus Active Cap Spending minus Dead money.
The Team salary cap is basically the money that the teams have at their disposal. To find out how much money this is, you first have to know the salary cap for that year. This has not yet been determined for 2024. “OTC” speculates at $242 million, other media recently even suggested a value of $250 million.
Carryovers, i.e. savings in principle, are added if you did not reach the salary limit in the previous year.
As Active Cap Spending is the amount that a team pays to players who are already under contract. Under Dead money is the amount that players leave on the payroll even when they are no longer on the team.
According to “Over The Cap”, the teams’ cap space currently fluctuates around almost $90 million. While the Washington Commanders apparently have around $73 million in cap space available, the Saints will have to get particularly creative. By restructuring contracts and releasing or trading players, New Orleans currently has to make up for a loss of $83 million in cap space.
All teams must be under the salary cap at the start of the league year.