What is an offer sheet?
An Offer Sheet is a signed and binding contract offer presented to a restricted free agent player whose rights are currently held by another club. Any team (other than the team that currently owns the players rights) can submit an Offer Sheet, with the goal of signing that player.
Who can an offer sheet be submitted to?
An Offer Sheet can be submitted to any player who meets the following criteria:
- The player qualifies as a Group 2 Restricted Free Agent (RFA), or
- The player qualifies as a Group 4 Restricted Free Agent (RFA)
: Any free agent player who is designated as a Group 1 or 10.2.c Restricted Free Agent or an Unrestricted Free Agent (UFA) [Groups 3, 5 or 6], are not eligible to receive an Offer Sheet.
When can a club negotiate an offer sheet with a player?
Negotiations of a potential offer sheet between a player and a club can begin on the later of:
- 5:00pm EST on June 26th
- 5:00pm EST on Tuesday following the NHL Entry Draft
When can a player sign an offer sheet?
A player can sign an Offer Sheet as of July 1
Does salary arbitration affect the offer sheet process?
- A player who has been elected for salary arbitration in the first window is eligible to receive an Offer Sheet
- A player who has been elected for salary arbitration in the second window is eligible to receive an Offer Sheet; however, the player has until July 5th at 5:00pm EST to sign the Offer Sheet
- A player who has elected for salary arbitration is not eligible to receive an Offer Sheet
What are the details for the club making the offer sheet?
To submit an Offer Sheet, the following conditions must be met:
- The submitting club must have all of the required draft picks available prior to submission
- All of the draft picks required as compensation must be the club's own draft picks (draft picks acquired from a different team in a trade cannot be used)
- The draft picks must available in the nearest entry draft, unless the compensation requires two or more draft picks in the same round: an extra year can be used to for compensation for these picks (if two 1st round picks are required, the club must have two 1st round picks available in the next three drafts)
- If an Offer Sheet is proposed in which multiple draft picks from the same round are required as compensation, the additional draft picks are sourced from the immediately succeeding drafts in which the draft picks are available
- A club is permitted to present multiple Offer Sheets, so long as the club has all of the picks required to satisfy each Offer Sheet.
: Clubs who do not have all of their own picks cannot substitute those picks with picks they have obtained from other clubs. However, clubs can reacquire their own picks in order to meet the requirements, but they must do so prior to submission
What are the details for the club receiving the offer sheet?
The player must be an RFA and therefore the receiving club must have made a qualifying offer (QO) to the player by the later of:
If the player has not received a QO they will instead become a UFA, for further details please see the Qualifying Offer Calculator
- 5:00pm EST on June 25th
- 5:00pm EST on Monday following the NHL Entry Draft
The club that receives an Offer Sheet has 7 days to match the offer or accept the draft pick compensation:
- If the receiving club accepts the Offer Sheet, they receive the compensation package which coincides with the annual average value of the offer made from the submitting club
- If the receiving club matches the Offer Sheet, they are bound to the contract details outlined in the offer, and must respect all aspects of the contract
- If the receiving club matches the Offer Sheet, they cannot trade that player for 1 year from the date of first refusal
What compensation is received for an offer sheet?