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Key Dates for Free Agents

by Bill Chuck on October 31, 2012

Monday, Oct. 29: The first day of free agency – At 8 a.m., eligible players officially became free agents.

Friday, Nov. 2: Deadline for teams to make qualifying offers to its free agents – Under the new collective bargaining agreement, in order for teams to receive compensation for losing a player in free agency, the team  must extend the player a qualifying offer, or a one-year deal worth the average of baseball’s 125 highest salaries. This season, that number is $13.3 million. If the player rejects the offer and signs elsewhere, his former club will receive a compensatory sandwich draft pick  between the first and second rounds.

Saturday, Nov. 3: First day players can sign with new teams – Players canbegin negotiating with new clubs on Oct. 29, they can’t technically sign with a new team until Nov. 3.

Sunday, Nov. 4: Last day for players to accept qualifying offers – This is the final day that free agents who have been extended a $13.3 million qualifying offer can accept them. After this date, any free agent who was extended but did not accept a qualifying offer will cost any new team that signs them either a 1 or 2 round pick.

Dec. 3-6: Winter Meetings in Nashville, Tennessee

Dec. 6: Day of the Rule 5 Draft

 

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