With the Super Bowl in the rear view mirror, and news of big time players like Derek Carr hitting the market already, it’s time to look ahead to the new league year.
While the offseason is completely underway now, we’re actually still a month away from the official start of the new league year. That comes at 3 p.m. on Mar. 15. When that time comes, and the new league year begins, then NFL free agency will officially begin.
What is the NFL franchise tag and how does it work?
Before that time a few things will happen to wrap up the current league year, however. Starting on Feb. 21 and running through Mar. 7 teams will have the opportunity to place franchise tags or transition tags on players.
That could take potential free agents off the market before it even opens. For instance, it’s widely speculated that the Chiefs could take this route with left tackle Orlando Brown Jr. GMs will also have until 3 p.m. on Mar. 15 to submit qualifying offers to restricted free agents and tenders to exclusive rights free agents.
That doesn’t mean GMs will first contact agents about their clients right when the new league year begins. The NFL has a negotiation period that begins at 11 a.m. on Mar. 13 so that teams can be ready to sign players right when free agency begins two days later
Which NFL team has the most cap space in 2023?
The Bears are projected to have more than $90 million in salary cap this offseason, which gives them plenty of room to make a splash in free agency. It’s also far more than any other team in the NFL. The Falcons come in second with $55 million in projected cap space.