How restricted free agency works Craig Thomas

How restricted free agency works . . .

*If a player has received a “qualifying offer” (a salary tender predetermined by the Collective Bargaining Agreement between the league and its players) from his old club.  He can negotiate with any club through May 2. 

*If the Restricted Free Agent signs an offer sheet with a new club, his old club can match the offer and retain him because the qualifying offer entitles it to a “right of first refusal” on any offer sheet the player signs.  If the old club does not match the offer, it may receive draft choice compensation depending on the amount of its qualifying offer. 

*If an offer sheet is not executed on or before May 2, the player’s negotiating rights revert exclusively to his old club.  In addition, a player who would otherwise be a Restricted Free Agent may be designated by his old club as its Franchise Player or Transition Player. No Restricted Free Agents were designated as Franchise or Transition players this year.