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We are approaching the start of the 2015 NFL league year: at 4:00 p.m. ET, the calender officially turns to 2015. This means the following:
Prior to 4 p.m. ET, clubs must exercise options for 2015 on all players who have option clauses in their 2014 contracts
Prior to 4 p.m. ET, 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
Prior to 4 p.m. ET, clubs must submit a Minimum Salary Tender to retain exclusive negotiating rights to their players with expiring 2014 contracts and who have fewer than three accrued seasons of free agency credit
Top-51 Begins. All clubs must be under the 2015 salary cap prior to 4 p.m. ET
All 2014 player contracts expire at 4 p.m. ET
2015 league year and free agency period begins (4 p.m. ET)
Trading period for 2015 begins (4 p.m. ET)
(per CBS)
What does this mean for the New England Patriots? Let's go through it step by step.
Prior to 4 p.m. ET, clubs must exercise options for 2015 on all players who have option clauses in their 2014 contracts
If the Patriots want to pick up a player's contract option, they have to do so prior to the start of the new league year or the player will become an Unrestricted Free Agent and is therefore free to sign with any team in the league.
New England has four players with options in their contracts: Darrelle Revis, Brandon Browner, Vince Wilfork and Nate Solder. Revis', Browner's and Wilfork's options will, according to various sources, not get exercised. There is, however, still the possibility that the Patriots reach a contract extension with any of them, because until 4:00 p.m., the team has exclusive negotiation rights.
The fourth player, Nate Solder, also has an option clause in his contract. Under the 2011 Collective Bargaining Agreement, teams have the ability to pick up a first round draft pick's fifth year option prior to the player's fourth year in the league. The Patriots did this in April 2014. Thus, Solder's $7.4 million salary will become fully guaranteed with the start of the new league year. Therefore, the Patriots might extend their left tackle today, to get some cap relief.
Prior to 4 p.m. ET, 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
No Patriots are set to become restricted free agents; the team does not have to worry about this.
Prior to 4 p.m. ET, clubs must submit a Minimum Salary Tender to retain exclusive negotiating rights to their players with expiring 2014 contracts and who have fewer than three accrued seasons of free agency credit
The following Patriots players are Exclusive Rights Free Agents:
WR Greg Orton
LB James Morris
FB James Develin
WR Brian Tyms
DT Sealver Siliga
Prior to the start of the new league year, those players can only sign contracts with the Patriots, provided they receive a minimum salary one-year offer. Otherwise, they would become Unrestricted Free Agents at 4:00 p.m.. Expect all players to receive such an offer today. For more information on the ERFA-process, look at this blog post by patscap.com's Miguel Benzan.
Top-51 Begins. All clubs must be under the 2015 salary cap prior to 4 p.m. ET
All 2014 player contracts expire at 4 p.m. ET
LS Danny Aiken
LB Akeem Ayers
DT Alan Branch
LB Jonathan Casillas
OG Dan Connolly
RB Stevan Ridley
RB Shane Vereen
LB Chris White