The free agency period for the National Football League kicks off on March 13, 2024, at 4:00 ET. We are sharing the following details ahead of the 2024 NFL Free Agency signing period.
WHAT TIME DOES THE FREE AGENCY SIGNING PERIOD FOR 2024 END?
on Wednesday, March 13, at 4:00 p.m. ET.Q.
WHAT TIME IS THE TWO-DAY PERIOD OF NEGOTIATION OPEN TO POSSIBLE UNRESTRICTED FREE AGENTS?
Clubs may get in touch with the certified agents of players who will become unrestricted free agents upon the expiration of their 2023 player contracts at 4:00 p.m. ET on March 13 between 12:00 p.m. ET on Monday, March 11 and 3:59:59 p.m. ET on Wednesday, March 13. Only potential unrestricted free agents are eligible to participate in the two-day negotiation window.
It does not apply to players (such as exclusive rights players, restricted free agents, franchise players, or transition players) who have received or may receive a mandatory tender relevant to the 2024 League Year.
WHAT ARE THE FREE AGENCY’S CATEGORIES?
A player can be classified as a “unrestricted free agent” or a “restricted free agent.” A “qualifying offer” could be extended to a restricted free agent. A former club may designate a restricted or unrestricted free agent as its franchise player or transition player.
Q. HOW LONG IS THIS YEAR’S FREE AGENCY SIGNING PERIOD?
For limited free agents, the dates are March 13–April 19. From March 13 until July 22 (or the first planned day of the first NFL training camp, whichever is later), for unrestricted free agents who have received a tender from their previous team by the Monday immediately after the last day of the NFL Draft for the 2024 League Year (i.e., April 29).
For franchise players, from March 13 until Tuesday, November 12, the Tuesday after Week 10 of the regular season. For players in transition, from March 13 to July 22. Following July 22 and until November 12, the preceding team will have exclusive negotiation rights with unrestricted free agents and transition players through 4 p.m. ET on Tuesday, the Tuesday following Week 10 of the regular season. The players on the above list will be forced to sit out the season if they do not sign before November 12.
WHAT SETS A RESTRICTED FREE AGENT APART FROM AN UNRESTRICTED FREE AGENT?
When their contracts expire on March 13 at the end of the 2023 league year, players with three accrued seasons who earned a qualifying offer become restricted free agents in the 2024 league year. Players with four or more accumulated seasons are considered unrestricted free agents. An unrestricted free agent is a player who, upon the expiry of his 2023 contract, may sign with any club without having to pay his previous team a draft pick. What Qualifies as a “Accrudred Season”?
On a club’s active/inactive, reserve/injured, or reserve/physically unable to perform lists, six or more regular season games.
Q. HOW DO RESTRICTED FREE AGENTS APPLY TO THE FREE AGENCY RULES?
A player with three accrued seasons may negotiate with any club through April 19 if he has received a “qualifying offer” from his previous team. A “qualifying offer” is a wage tender set under the Collective Bargaining Agreement between the league and its players. The qualifying offer gives the previous club the “right of first refusal” over whatever offer sheet the restricted free agent signs, thus if he signs one with a new team, his old club can match the offer and keep him.
Depending on the value of its qualifying offer, the old club may earn draft-choice compensation if it does not match the offer. The player’s exclusive negotiation rights return to his former club if an offer sheet is not finalized by April 19 at the latest. Furthermore, a player who would have been a restricted free agent at the commencement of free agency might be named as the franchise player or transition player for his former team.
WHAT ARE PLAYERS’ RIGHTS RELATING TO FIRST REFUSAL/QUALIFYING OFFER AMOUNTS AFTER COMPLETING THREE ACCRUED SEASONS?
Only for right of first refusal, a minimum wage of $2,985,000 each year for one year. In exchange for a one-year contract at the player’s initial draft round, right of first refusal, and compensation
For right of first refusal and compensation of one second-round draft selection, a one-year salary of at least $4,890,000 or 110 percent of the 2023 Paragraph 5 salary, whichever is greater. For right of first refusal and compensation of one first-round draft selection, a one-year salary of at least $6,822,000 or 110 percent of the 2023 Paragraph 5 salary, whichever is greater. For right of first refusal and compensation of only one first-round draft selection, but any provision in the new club’s offer sheet waiving or limiting the new club’s ability to designate the player as a franchise or transition player is not a principal term and need not be matched by the prior club, a one-year salary of at least $7,322,000 or 110 percent of the 2023 Paragraph 5 salary, whichever is greater.
Q. WHAT DETERMINES AN UNRESTRICTED FREE AGENT?
A player with four or more accrued seasons whose contract has expired. He is free to sign with any club, with no draft-choice compensation owed to his old club, through July 22 (or the first scheduled day of the first NFL training camp, whichever is later).
At that point, his negotiating rights revert exclusively to his old club if by April 29 the old club tendered the player a one-year contract for 110 percent of his prior year’s salary. His old club then has until the Tuesday following Week 10 of the regular season (November 12) to sign him. If he does not sign by that date, he must sit out the season. If no tender is offered by April 29, the player can be signed by any club at any time throughout the season.
Q. WHAT DETERMINES A FRANCHISE PLAYER?
The salary offer by a player’s club determines what type of franchise player he is: exclusive or non-exclusive. An “exclusive” franchise player – not free to sign with another club – is offered the greater of (i) the average of the top five salaries at the player’s position for the current year as of the end of the restricted free agent signing period on April 19; or (ii) the amount of the required tender for a non-exclusive franchise player, as explained below. Article 10, Section 2(a)(i) of the CBA sets forth the methodology, known as the “Cap Percentage Average,” for calculating the required tender for a non-exclusive franchise player: The Nonexclusive Franchise Tender shall be a one year NFL Player Contract for (A) the average of the five largest Prior Year Salaries for players at the position . . . at which the Franchise Player participated in the most plays during the prior League Year, which average shall be calculated by: (1) summing the amounts of the Franchise Tags for players at that position for the five preceding League Years; (2) dividing the resulting amount by the sum of the Salary Caps for the five preceding League Years . . . ; and (3) multiplying the resulting percentage by the Salary Cap for the upcoming League Year . . . (the “Cap Percentage Average”) . . . ; or (B) 120% of his Prior Year Salary, whichever is greater . . . . If a club extends a required tender to a “non-exclusive” franchise player pursuant to this section, the player shall be permitted to negotiate a player contract with any club, except that draft-choice compensation of two first-round draft selections shall be made in the event he signs with a new club.
Q. HOW MANY FRANCHISE PLAYERS AND TRANSITION PLAYERS CAN A TEAM DESIGNATE EACH SEASON?
A club can designate one franchise player or one transition player among its potential restricted or unrestricted free agents.
Q. CAN A CLUB DECIDE TO WITHDRAW ITS FRANCHISE OR TRANSITION DESIGNATION ON A PLAYER?
Yes. A club can withdraw its franchise or transition designation, and the player then automatically becomes an unrestricted free agent, either immediately if the tender is withdrawn after the start of the 2024 League Year, or when his 2023 contract expires if the tender is withdrawn before the start of the 2024 League Year.
Q. WHAT IS THE SALARY CAP FOR 2024?
The salary cap is $255,400,000 per club.
Q. WHEN MUST TEAMS BE IN COMPLIANCE WITH THE SALARY CAP?
At the start of the 2024 League Year, which begins at 4:00 p.m. ET on Wednesday, March 13.
Q. IF A TEAM IS UNDER THE SALARY CAP AT THE END OF A GIVEN SEASON, CAN THE TEAM “CARRY OVER” ROOM TO THE NEXT SEASON?
Yes. A team may carry over room from one league year to the following league year by submitting notice to the NFL prior to 4:00 p.m. ET on the day following the team’s final regular-season game, indicating the amount of room that the club wishes to carry over. Q.
WHAT IS THE MAXIMUM AMOUNT OF ROOM THAT A CLUB CAN CARRY OVER?
A club can carry over 100 percent of its remaining 2023 room to its adjusted salary cap for 2024.
