Originally posted by Patler
Whether the term is "release" or "withdraws tender" the point is the same. He can't shop his services around the league, nor can other teams bid for his services. In other words, he's just like a draft pick, if he doesn't sign with the Packers, he can't play, until such time as the team "withdraws" their tender. That better?
Edit: And here's the reference to "Exclusive Rights Free Agent" from the NFL Players Association website. Hopefully, that's authoritative enough for you...
http://nflpa.org/CBA/free_agency_System_explained.aspx[b]
Exclusive Rights Free Agents – A player whose contract expires at a time when he has less than three Accrued Seasons in the NFL cannot market his services to other clubs if his old club gives him a minimum salary tender on or before March 1, 2007. If the tender is provided, this player can only re-sign with his old club (unless the tender is later withdrawn).
And here's the definition of "restricted free agent" from the Players Association...
Restricted Free Agent – A player whose contract expires when he has three Accrued Seasons (but less than four) is in this category in a capped year. If his old club provides him with a sufficient “Qualifying Offer” on or before March 1, 2007, it retains the right to either match an offer the player may get from another club or to receive draft choice compensation from the club making the offer. The Qualifying Offer is based on the level of draft choices the old club wants to receive. For Example, the Qualifying Offer to receive a first and third rounder in 2006 was $2,096,600. The Restricted Free Agent only has about a week before the draft (April 28 - 29 in 2007) to generate an offer from another club. If he fails to get an offer, his exclusive rights revert to the old club unless the Qualifying Offer is withdrawn.

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