Free agent

In professional sports, a free agent is a player who is eligible to sign freely 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.

In the NHL, between 2005 and 2008, the age of unrestricted free agency declined from 31 to 27. As of 2008, any player who is at least 27 years old or has at least seven years of service as an NHL player, and whose contract has expired, will become an unrestricted free agent. On July 1 of each year the free agency period begins, and unrestricted free agents are free to negotiate and sign contracts with any team. Under the old collective agreement, which expired in 2004, draft picks were awarded as compensation when a team lost an unrestricted free agent; however, under the CBA teams losing unrestricted free agents do not receive any compensation.

In addition, any player at least 22 years of age who has not been selected in the NHL Entry Draft can sign with any team as a free agent.

Any player who is not entry-level, but does not meet the qualifications of unrestricted free agency becomes a restricted free agent when his contract expires.