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In the National Hockey League, an offer sheet is a contract offered to a restricted free agent by a team other than the one for which he played during the prior season. If the player signs the offer sheet, his current team has seven days to match the contract offer and keep the player or else he goes to the team that gave the offer sheet, with compensation going to his first team.
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This contract was not historically guaranteed; however, it became guaranteed starting in 2007 per the collective bargaining agreement agreed to by the NFL owners and the NFLPA on March 8, 2006. If the player signs the offer sheet prior to a long-term contract, the player's team can then use the tag the next year.
Team matching offer sheet. Arizona Cardinals offensive guard Reggie Wells was a restricted free agent in the 2006 offseason. On March 17, the Buffalo Bills signed him to an offer sheet – a five-year deal worth approximately $18 million. Four days later on March 21, the Cardinals matched the Bills' offer sheet for Wells, and he reverted to the ...
In the National Football League (NFL), the franchise tag is a designation a team may apply to a player scheduled to become an unrestricted free agent. The tag binds the player to the team for one year if certain conditions are met. Each team has one franchise tag (of either the exclusive or non-exclusive forms) and one transition tag per year.
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