Qualifying Offers 101 Rules Per CBA

New York Islander Fan Central | 10/23/2007 12:23:00 PM |
Here are the rules per CBA:
Teams are required to extend a one-year “qualifying offer” to any current restricted free agent by June 28 in order to receive the right of the first refusal or draft choice compensation should that respective player sign an offer sheet with another NHL club. The qualifying offers will expire at 4 p.m. (Central Time) on Thursday, July 15.

Qualifying offers fall into three categories:

1. A player whose prior year salary was equal or less than $660,000 must receive a qualifying offer of 110% of their prior year’s salary.

2. A player whose prior year salary was more than $660,000 and up to $1 million must receive a qualifying offer of 105% of their prior year’s salary (but in no event shall such qualifying offer exceed $1 million).

3. A player whose prior year salary was more than $1 million must receive a qualifying offer at 100% of their prior year’s salary.

If a team does not give a qualifying offer to a restricted free agent, he is eligible to become an unrestricted free agent on July 1, and can sign with any team with no compensation required to the player’s former club.

NYIFC Comments:
To clarify, if a player is given a qualifying offer by 6/28 and accepts by 7/15 he is signed per above increases. If not, the player/team can elect arbitration, to which a contract will be awarded. Or he can elect to do nothing, and keep negotiating.

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