Free agent

In sports, a free agent is a player whose contract with a team has run out and is now free to sign with another team. In some leagues, there is a distinction between an "unrestricted free agent" and a "restricted free agent." A restricted free agent is a player who may be free to sign with another team, but with certain restrictions. Often times the player's current team may have to sign off on the deal or the current team may be entitled to compensation in the form of money or draft picks from the player's new team.