Countdown to Free Agency: Important NFL Offseason Dates

With the Super Bowl now behind us, NFL teams (and their fans!) will finally be able to turn their full attention to the new league year.  While the 2023 league year does not technically begin until March 15^th, there are many key calendar dates that are part of the NFL offseason process – starting today. The following are the key dates on the league calendar between now and Week 1 of the NFL season.

FEBRUARY 13^th – As of today, teams are allowed to start releasing players without any repercussion on the 2022 Salary Cap. So, teams are now able to start making moves with the aim of improving their Salary Cap for 2023. All veteran players with more than four (4) accrued seasons are immediately free agents and not subject to waivers. All non-vested veterans (i.e. less than four (4) accrued seasons) are subject to waivers. If they clear waivers, they immediately become free agents and are free to sign a contract at any time (even if before March 15th).

With the new league year set to commence on March 15^th, expect the Ravens (and most teams) to start making moves at some point in early March.

FEBRUARY 28^TH – MARCH 6^th – NFL Draft Combine.

LATE FEBRUARY/EARLY MARCH – The date that the NFL has announcement the list of Compensatory Draft picks have varied over the years from the Friday of the NFL Combine to more recently, just before the new league year (March 10^th in 2020 and 2021 and March 15^th in 2022). Unfortunately, for the Ravens this date isn’t important in 2023 as, for the first time since 2010, the Ravens are not expected to receive any Comp picks this year.

FEBRUARY 21^st – MARCH 7^th – As of February 21^st, teams can begin designating pending Unrestricted Free Agents (UFAs) with the Franchise or Transition Tag. If a team wants to use either Tag, they must do so by 4:00 pm on Tuesday, March 7^th.

(LAMAR.)

MARCH 13^th – The “legal tampering” window opens. As of March 13^th at Noon, teams and pending UFAs can start discussing contract offers and terms with potential free agents, though a contract cannot be agreed upon (*wink-wink*) until March 15^th.

MARCH 15^th – At 4:00 pm on Wednesday, March 15^th, the 2023 league year begins:

• Teams must have submitted tender offers to all of their Restricted Free Agents (RFAs) and Exclusive Rights Free Agents (ERFAs) who they want to retain.
• Teams must exercise all 2023 contract options tied to the first day of the league year.
• Free agency begins for Unrestricted Free Agents (UFAs) and Restricted Free Agents (RFAs)
• The trading period begins.  Any trades agreed to before this date can now be officially consummated.
• All teams must be under the Salary Cap and the Rule of 51 Cap computation begins.

The 2023 Salary Cap has officially been set at $224.8M. The Ravens presently have around 27.7M in Cap space. This number will obviously change between now and March 15^th as the Ravens make other moves – RFA tenders, signing, re-signings, restructures and/or contract extensions – aimed at creating additional Cap space.

MARCH 19th  – 5^th Day of League Year – if on the Ravens’ roster at 4:00 pm on March 19th, the following contract triggers hit:

• PK Justin Tucker’s 2023 $1.25M base salary becomes fully guaranteed.
• S Chuck Clark’s $1.161M Roster Bonus is due.
• DT Calais Campbell’s $2M Roster Bonus is due.
• $3.15M of CB Marlon Humphries’ $10.5M 2023 base salary becomes fully guaranteed.
• S Marcus Williams’ $1.08M 2023 base salary becomes fully guaranteed.
• S Marcus Williams’ 2026 Option Year exercised.

APRIL 21^st – The deadline for teams to sign RFAs to an offer sheet. If another team signs a RFA to an offer sheet, the player’s present team has five days to match that offer or potentially (depending on the tender given to the play) receive draft pick compensation if they decline to match. With the draft starting on April 28^th, the deadline to sign a player to an offer sheet and allow for the required five-day match period is April 21^st.

ARPIL 27^th-29^th – The NFL Draft, to be held in Las Vegas this year.

The Ravens will have the 23^rd overall pick in the first round (though will pick 22^nd due to the Dolphins forfeiting the 21^st overall pick) and are expected to only have five total picks in the 2023 draft. They presently have their 1st, 3rd, 4th, 5th and 6th Round picks. The Ravens traded their own 2nd and New England’s 5th (acquired in the 2022 trade of CB Shaun Wade) to Chicago for LB Roquan Smith and also traded their 7th as part of the 2022 trade of G Ben Bredeson to the New Your Giants.

MAY 1^st – May 1^st is the CBA-mandated date (Monday after the NFL draft) by which 5^th Year Options must be exercised for 4^th year players who were drafted in the 1^st round. For the Ravens, this would be the deadline to exercise the 5^th Year Option for LB Patrick Queen. Recently, General Manager Eric DeCosta was non-committal about Queen’s option, but the expectation is that the Ravens will exercise the option to keep Queen for the 2024 season.

MAY 1^st – The “May 1^st Tender” date. This date, which was moved forward from June 1^st a couple of years ago, is essentially the last date that the signing or losing of a free agent will count toward the Compensatory Draft pick calculation. The May 1^st Tender is also a way a team can potentially obtain exclusive negotiating rights with a player later in the summer (after July 22^nd). It also provides extended Comp pick eligibility if the player is tendered a contract of at least 110% of his prior year’s compensation by May 1^st.  Otherwise, if the player is not given the Tender, he no longer counts toward the Comp pick formula and the team does not gain any special negotiating advantage later in the off season.

While this Tender is rarely used, last year both the Ravens (Justin Houston) and Chiefs (Melvin Ingram) did use the Tender. The Ravens re-signed Houston, but Ingram signed with the Dolphins and did count as a loss for Comp picks purposes for the Chiefs. While the Chiefs did not get a Comp pick directly for the loss of Ingram (he was cancelled by the signing of another player), his loss did allow the Chiefs to receive a lower round Comp pick for the loss of a different player.

JUNE 1^st – This is the last day that teams can release a player and have all of the dead money from that release count against the present year’s Salary Cap. If released after June 1^st, only the present year’s bonus prorations count against the Cap in that year and all future bonus prorations would count against the following year’s Cap.

JULY 15^th – This is the deadline for signing a player who has received the Franchise or Transition tag to a long-term deal. If no long-term deal can be reached by this date, the player must play that year under the one-year contract provided under the Franchise/Transaction Tender and cannot sign a long-term deal until after the season is over.

LATE JULY – NFL training camps start opening.

SEPTEMBER 2^nd – Final cutdown date; all teams must cut down to 53 players.

SEPTEMBER 7^th  – At 12:00 a.m., the Rule of 51 ends and all teams must be fully under the 2023 Salary Cap. This includes all of the players on the 53-man roster, the Practice Squad and all players on any of the reserve lists (IR, PUP, etc.).

SEPTEMBER 7^th, 10^th-11^th – Week 1 of 2023 NFL regular season.