There are important dates in the league year… and then there are important dates. On March 9th — today — the old league year ends and the new league year begins. On March 9th the salary cap must be balanced based on the top 51 players on each team’s roster. On March 9th free agency can “legally” begin and players can sign contracts with their new teams.
March 9th is the date that it all goes down… and more. Let’s go over each league deadline. Some of the following information comes from NFL.com
Players Contracts Come to an End
“March 9 — All 2016 player contracts will expire at 4:00 p.m., New York time.”
There is no league without players, and there are no players who play without their contracts. Every player kept by their team comes to an end each year at this time.
The Top 51 Players and Balancing the Capbook
“March 9 — Top-51 Begins. All clubs must be under the 2017 salary cap prior to 4:00 p.m., New York time.”
It’s also the day of balancing the budget for 32 teams. Each team must offer proof that they are under the new salary cap which was announced about a week ago at $167M for 2017 (that’s $14M higher than the $153M in 2015-16).
Time to Exercise… for the Teams
“March 9 — Prior to 4:00 p.m., New York time, clubs must exercise options for 2017 on all players who have option clauses in their 2016 contracts.”
Teams who have written contracts for players with an option must either make good on that option or not and March 9 is the cut-off date for doing so.
Right of First Refusal/Compensation for Restricted FAs
“March 9 — Prior to 4:00 p.m., New York time, clubs must submit qualifying offers to their Restricted Free Agents with expiring contracts and to whom they desire to retain a Right of First Refusal/Compensation.”
To explain what sounds like a bunch of mumbo-jumbo legalese, we turn to nj.com which says,
“...a restricted free agent’s current team can tender a qualifying offer that would entitle that team to a right of first refusal on any offers made by another team, as well as compensation if the restricted free agent were to sign with that other team.”
There are four kinds of “right of first refusals” but it’s not worth sorting out here. If you’re interested follow the link above.
Minimum Salary Tender
“March 9 — Prior to 4:00 p.m., New York time, clubs must submit a Minimum Salary Tender to retain exclusive negotiating rights to their players with expiring 2016 contracts and who have fewer than three accrued seasons of free agency credit.”
From sportrac.com,
“Each year the NFL minimum salaries increase by $15,000, up to $465,000 for a rookie in 2017. A player’s minimum salary is determined by his years of experience (YOE), ranging from 0 to 10 or more.”
Here’s a chart showing the minimum that players can make over the next three season, also from sportrac.com:
Trading Begins
“March 9 — Trading period for 2017 begins at 4:00 p.m., New York time, after the expiration of all 2016 contracts.”
Once the league year officially gets under way, teams can begin to beg, barter and steal from each other. Well, not os much on the thieving as they can place players on the trading block. Not sure I understand the significance of this rule and deadline because the Cowboys could have traded Tony Romo just yesterday couldn’t they?
HAPPY NEW YEAR!
“March 9 — The 2017 league year and free agency period begin at 4:00 p.m., New York time. The first day of the 2017 league year will end at 11:59:59 p.m., New York time, on March 9. Clubs will receive a personal notice that will include all transactions submitted to the league office during the period between 4:00 p.m., New York time, and 11:59:59 p.m., New York time, on March 9.”
Lady’s and Gentlemen, Start Your Engines! With the new league year under way later today, teams can execute contracts, trades and sign players to their heart’s content.
Let’s. Get. It. On!.
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