What exactly is “free agency”?!   It’s like the time period before the big dance when you are trying to find the perfect date.  Free agency is the period in the national football league beginning 12:01 a.m. on Friday, March 5th where any player whose contract with a team has expired (free agent), is eligible to negotiate and be signed by another team.  The ending of the free agency period depends on the designation of the free agent.

Exclusive Restricted Free Agents
A player becomes an exclusive restricted free agent when he has completed less than three seasons and his contract with his current team has expired.  You may see this player designated by EFA (Exclusive restricted Free Agent).  For an exclusive restricted free agents, the free agency period is from March 5 to April 15.

Restricted Free Agents
A player becomes a restricted free agent when he has completed three to five seasons and his contract with his current team has expired.  You may see this player designated by RFA (Restricted Free Agent).  For restricted free agents, the free agency period is from March 5 to April 15.

Unrestricted Free Agents
A player becomes an unrestricted free agent when he has completed six or more seasons and his contract with his current team has expired.  You may see this player designated by UFA (Unrestricted Free Agent).  For unrestricted free agents, the free agency period is from March 5 to July 22.

Franchise Free Agents
A player becomes a franchise player according to the salary paid to him by his team.  If a player is paid the average or better, of the top five salaries of the players in his position, then he becomes a franchise player.  You may see this player designated by Franchise.  For franchise players, the free agency period is from March 5 until the Tuesday after the 10th week of the regular-season.

There are also Undrafted Free Agents (UFA).  These players were considered eligible for the national football league draft coming up in April but who were not selected.  They can join any team willing to sign them and can negotiate with any team.

Free agency is all about moves, signings, caps and recaps. But in the end, some teams will get better with new additions and others will simply have just overpaid for players that don’t make an impact.