The final pieces of confetti have barely fallen to the floor in SoFi Stadium following the Los Angeles Rams' victory over the Cincinnati Bengals in Super Bowl 56. And yet the league-wide planning for 2022 is already underway and some serious wheeling and dealing is just around the corner.
The new league year officially kicks off on March 16 and that signals the beginning of the free agency signing period where big-name players such as Green Bay wide receiver Davante Adams, Tampa Bay Buccaneers wideout Chris Godwin, Arizona Cardinals pass rusher Chandler Jones and New England Patriots cornerback J.C. Jackson could be up for grabs.
Here is everything you need to know about the impending March madness.
Transfer Deadline Day in reverse!
The new league year officially kicks off on March 16 with a free agency signing period, which is like transfer deadline day in reverse as teams come storming out of blocks to grab veteran players who are out of contract.
Open your wallets!
Teams can sign players from 9pm UK time on Wednesday March 16. But business can be done before that official launch. NFL clubs are allowed to negotiate with players from 5pm UK time on Monday March 14. Teams are often willing to risk spending big to change their fortunes. Last year, the New England Patriots spent a record $159.6 million in nine days on passing game targets such as Hunter Henry, Jonnu Smith, Kendrick Bourne and Nelson Agholor and returned to the playoffs. The deals offered to new players must be carefully considered because March 16 is also the date when all 32 teams must be on or under the NFL's annual salary cap
Buyer beware!
There are good deals to be made in free agency, as the AFC champion Cincinnati Bengals can attest. They signed defensive end Trey Hendrickson to a four-year, $60 million deal this time last year and that paid dividends in 2021 as the defender recorded 17 ½ sacks, including the playoffs and the Super Bowl. But for every Hendrickson, there is a high-priced disappointment like aforementioned New England receiver Agholor. He signed a two-year deal with the Patriots worth at least $11 million per season but caught just 37 balls for 473 yards and three touchdowns in 2021. Free agency signings are far from an exact science and it is often the more desperate teams who roll the dice come the opening hours of the new league year.
Player power
Once they reach the end of their existing deals, players are free to hit the open market and can choose where they play next. Depending on the stage of their respective careers, some will go for the best financial deal offered to them. Others will pick a destination they feel offers the best shot at Super Bowl glory.
Tag… you're it!
Not every free agent reaches free agency. Introduced in 1993, the franchise tag is a designation that teams can use to prevent the loss of one key player to free agency each offseason. If a long-term deal is not reached by July, the player is paid the average of the top five at his position across the NFL for one year. Expect the likes of Davante Adams, of the Packers, and Miami Dolphins tight end Mike Gesicki, to get tagged if long-term deals cannot be reached with their respective clubs. If a player is franchise tagged a second time, he receives a 20 percent raise on the previous year and that goes up to a raise of 44 percent if tagged a third and final time. A player cannot be franchise-tagged more than three times, although such occurrences are extremely rare.
Any other business
While NFL teams do not conduct money transfers like the Premier League clubs, there are still ways veteran players who are under contract can move. The opening of the new league year is a busy time for trades with teams exchanging draft picks and players to acquire a key target. In recent years, the opening of the new league has seen superstars such as quarterback Matthew Stafford and receivers DeAndre Hopkins and Odell Beckham Jr. move via trades. Who will move this time around? Will Aaron Rodgers and Russell Wilson force their way out of Green Bay and Seattle, respectively? Will the Indianapolis cut loose and move on from Carson Wentz? All these questions and more will be answered in the coming weeks and months but there is no doubt that from March 14 onwards, there will be high drama across the NFL.
