Free agent
In professional sports, free agent is a player who is eligible to sign with any club or franchise, 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. In some circumstances, the free agent's options are limited by league rules.
Types
Terms
Unrestricted free agent
Unrestricted free agents are players without a team. They have either been released from their club, had the term of their contract expire without a renewal, or were not chosen in a league's draft of amateur players. These people, generally speaking, are free to entertain offers from all other teams and to decide with whom to sign a contract.
Restricted free agent
The specific rules of restricted free agency vary among the major professional sports, but in principle it means that a player is free to solicit contract offers from other teams; however, this player cannot sign with the competing club if the current club matches (or in some leagues come within 10%) the terms of the offered contract. For a restricted free agent, some leagues require the competing team to offer up to the original team a draft pick(s) when an offer is not matched, as compensation for losing the player.
