Sportslaw Jargon: Franchise Player
The term "franchise player" is one used in the context of the NFL. In 1993, the NFL and the NFL Players' Association concluded a collective bargaining agreement that first used that term.
The 1993 CBA creates categories unrestrictive free agency, restrictive free agency for players who have played for a certain number of seasons.
To prevent a situation whereby the very best players could be bought by other teams, The "franchise player" was created. Regardless of player's status as an unrestrictive free agent (which applies after four years of playing) each team can designate a franchise player for each season. The player may then only negotiate with the club for that season and the club must pay him the average of the five largest prior year salaries for players at that position he played the most games, or a salary of 120 percent of his prior year salary, whichever is greater.
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