As the start of the 2024 league year approaches, NFL teams will begin to place restricted free agent (RFA) tenders on their players. Let’s look at how a player becomes a restricted free agent and the value of the four RFA tenders.
What Is an NFL Restricted Free Agent?
Restricted free agents are players with three years of accrued NFL seasons. Unlike unrestricted free agents, restricted FAs can have their markets limited due to four different tenders.
A team that places a tender on a restricted free agent can match an offer sheet from another club. If a draft pick value is attached to the tender, the original team can receive compensation if it lets the player walk.
Like the franchise tag, a restricted tender protects a team from losing internal talent. Teams can place first-round, second-round, and right-of-first-refusal tenders on players. Each tender is a one-year contract with a value based on the level of the tender.
For example, a first-round tender would yield a first-round pick from another team if an offer sheet wasn’t matched. A second-round pick would go to a departing team if a restricted free agent didn’t have an offer sheet matched on a second-round tender.
If a player is tendered at the original round/right-of-first-refusal level and signs an offer sheet that his incumbent team declines to match, that club would be entitled to a draft choice equal to the round in which the player was selected. The team wouldn’t receive compensation if the player wasn’t drafted or was tendered at the lowest of the four levels.
Restricted free agents are typically players who have been cut or injured during their rookie deals or former undrafted free agents. UDFAs must receive three-year contracts. When that deal runs out, the player is technically a free agent but hasn’t accrued enough service time to become an unrestricted free agent.
For former late-round picks or undrafted players, the right-of-first-refusal tender is typically the best avenue for teams. However, a second-round or even first-round tender could make sense if a Day 3 selection or UDFA has become a high-profile player over his first three NFL seasons.
If a restricted free agent isn’t tendered by the start of the new league year (March 13), they’ll immediately become an unrestricted free agent and can sign anywhere without an offer sheet.
How Much Does Each Restricted Tender Cost?
Each restricted tender’s price point is based on the NFL salary cap. The salaries are relatively expensive, as they compensate the player for his inability to move freely to another team.
They also create leverage against the incumbent team deciding on the tender. For instance, a team might want to tender an up-and-coming backup offensive tackle, but they might not want to pay the price of a second-round restricted tender to retain his services.
The NFL set the 2024 salary cap at $255.4 million in late February and simultaneously announced next season’s RFA tender values:
- First-round tender: $6.822 million
- Second-round tender: $4.89 million
- Original round tender: $3.116 million
- Right-of-first refusal tender: $2.985 million
The values of each tag can hinder a team from placing a higher tender on a player. Suppose a team likes a running back who is expected to enter restricted free agency. In that case, a general manager might be more inclined to reach a long-term deal ahead of the new league year instead of paying the value of the second-round tender.
Does a Restricted Free Agent Have To Sign?
Much like with a franchise or transition tag, an NFL player can choose not to sign his restricted free agent tender. However, he doesn’t become an unrestricted free agent by doing so. Instead, his rights remain with his original team. Consequently, if he chooses not to play, he doesn’t receive an accrued season in the following year.
The only leverage an RFA has is to get an offer that his original team will not match. However, that is easier said than done, particularly if a player comes with a first- or second-round RFA tender.
If his team does not offer a restricted free agent an RFA tender, he becomes an unrestricted free agent. Additionally, if a team withdraws a tender before the player signs it, he becomes an unrestricted free agent.
Can a Restricted Free Agent Be Traded?
A restricted free agent can still be traded between NFL teams after receiving a tender. Rather than going through the offer sheet process, teams can negotiate a trade.
For example, in 2007, the Miami Dolphins offered Wes Welker a second-round tender. The Dolphins then agreed to a trade with the New England Patriots. The Patriots sent second- and seventh-round picks to the Dolphins in return for Welker.
Notable Players Eligible To Become Restricted Free Agents in 2024
Jauan Jennings, WR | San Francisco 49ers
After throwing and catching touchdowns against the Kansas City Chiefs in the season’s final game, Jauan Jennings might’ve been named Super Bowl MVP had the 49ers won. San Francisco may need to use a second-round RFA tender to retain Jennings, a valuable middle-of-the-field pass catcher and more-than-willing run blocker.
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49ers general manager John Lynch said at the Combine that his club is interested in extending Jennings, who’s averaged a 26-321-2 line in three seasons behind Deebo Samuel and Brandon Aiyuk.
Alaric Jackson, LT, and Michael Hoecht, EDGE | Los Angeles Rams
Alaric Jackson started 15 games at left tackle for the Rams and allowed just one sack, tied for second-fewest among OTs with at least 500 pass-blocking snaps, per PFF. Six-foot-seven, 285-pound dancing bears like Jackson don’t grow on trees, so Los Angeles might have to deploy a first-round tender to keep him.
A defensive tackle turned edge rusher, Michael Hoecht went from an interesting flier to a full-time starter in 2023, appearing on 85% of the Rams’ defensive snaps. He was probably stretched in that role but could still have value as a rotational pass rusher.
Isaiah Hodgins, WR | New York Giants
At 6’3″ and 200 pounds, Isaiah Hodgins always stood out in the Giants’ all-slot WR offense. The former sixth-round pick emerged as Daniel Jones’ No. 1 option down the stretch of the 2022 season, hauling in eight catches for 105 yards and a touchdown in New York’s Wild Card round win over the Minnesota Vikings.
While Hodgins played all 17 games in 2023, he didn’t quite deliver at the same rate, managing just a 21-230-3 line.
Mike Jackson, CB | Seattle Seahawks
Although Mike Jackson played like a competent CB in 17 starts in 2022, the Seahawks didn’t give him much of a chance after drafting Devon Witherspoon in 2023. While Jackson was re-inserted into Seattle’s starting lineup to close the year, he played just 40% of the team’s defensive snaps on the season.
NFL teams always need plenty of cornerback depth, so the Seahawks could consider extending Jackson an RFA tender with the intention of trading him.
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