What is Free Agent (RFA / UFA)?

A player whose contract has expired and is free to sign with any team, or negotiate with his current team.

What this tells us

When a player's contract ends, he becomes a free agent. There are two types: restricted free agents (RFAs) can only negotiate with their current team unless another team makes an offer, while unrestricted free agents (UFAs) can sign with any team. This is when you see big trades and signings happen in the offseason — teams competing to land the best available players.

Limitations

The NHL's salary cap and a team's current roster construction limit how much money a team can actually spend on a free agent, even if they want to. Also, a player's decision isn't purely financial — some choose lower salaries to play for a contender or stay close to home.

Example

A star player's contract expires in July. If he's a UFA, he can negotiate with all 32 teams. If he's an RFA, he can negotiate with his current team first, or wait for another team to make a formal offer that his current team can match or decline.