NCAA Football is governed by NCAA Divisions of Alcoholic Beverages and Gaming, which are based in the South. Unlike other sports, NCAA football is governed by a set of rules that govern every aspect of the game including, but not limited to, eligibility and treatment. As a student you have the right to participate in sports for the sport of your choice as long as you meet the age requirement. You will be considered an UFA once you have met the age requirements. An unlimited contract is one of the most sought out aspects of signing with an NCAA school. The player may sign an agreement whereby he is able to play for the college of his choice for the duration of his college career.
A Limited Contract (LIC) A Limited Contract (also called a RFA) is a one-time deal that allows a player to enter into a contract that lasts for one season. He can then sign a contract that is identical to his current RFA deal from another team throughout the following season. Players who sign a RFA contract are usually college seniors who have exhausted their athletic eligibility. UFA’s are generally restricted free agents (although some exceptions may exist).
Extension Agreements A player may sign an extension that extends his contract through a third party. The extension agreement may be one that is multi-year in nature or it may be a one-year deal. In either case, the player must sign the extension by the conclusion day of his current RFA contract. If the player does not sign such an extension agreement by the end of his current NBA career, he forfeits his rights to future RFA contracts.
Signings Based on Extension Agreements A player who signs an extension but later decides to sign a multi-year contract usually forfeits the option money paid in the former deal. If a team likes what they see in a player and decides to offer him a contract extension, the player may decide to hold out until his contract expires and wait to sign an extension. Or, if he is in the NBA and his agent strongly prefers him to be a member of the league’s team (due to injury, competition, etc. ), the player may decide to sign a one-year deal and then wait for his contract to expire. He may sign a two-year deal if he is going into his final NBA season and has yet to show he can play at that level.
Waiver/FA Agreements A team can offer a player a waiver or a release similar to the NBA’s Trade Way Release (TWD). However, this release does not eliminate the player’s rights to a future signing a contract. Instead, the waived or released player must accept a contract offer from the NBA or an NBA team. The player may then elect to receive a trade kicker, which is a bonus based on how many years are left on his contract. The bonus may reach up to five years in today’s value if he exercises his release. In today’s NBA, players who receive trade bonuses are often traded to provide immediate roster help.
Most popular UFA deals are long term contracts with players making approximately one-year minimum salary guarantees. Two-year deals with one-year guaranteed contracts make a nice fit for talented youngsters needing to develop in their developmental stage while earning a two-year, average salary. Two-year contracts with three, four, or five years guarantees also make good value for big veteran free agents looking to solidify their position in their respective teams before hitting the free agent market. A one-year contract with a three-year, average salary guarantee makes a nice value in the NBA because it gives a player enough time to get back to being a top-level NBA player.