League Off-Season/New Rule Period (January – February)
January
Trades are permitted once the playoffs end
Waivers are closed at the end of the playoffs and do not reopen until after the Free Agent Auction in the fall
Holdouts will be declared by the commissioner by the end of January
Rookie Draft Lottery will happen before the end of January
February
Decisions on Holdout players need to be made by March 1
Franchise and Transition Tags must be declared by March 1
Second year players on the Taxi Squad must be released or promoted to the Active Roster by March 1
Players on long-term contracts can be released prior to March 1 and their Dead Cap penalty will only count against the upcoming season
March
Players whose contracts expired become Free Agents on March 1
Existing Contracts are adjusted to reflect the updated years remaining
Transition Tag Bidding happens between March 1 and March 8
Each August, an Auction Draft will be held allowing for the bidding on all Free Agents, including players whose contracts ran out after the previous season and undrafted rookies
Apart from the Rookie Draft and the Transition Tag process, the Free Agent Auction is the only way to sign players to long-term contracts
Each team’s budget will be determined by their available Salary Cap space
The Free Agent Auction will either be held through the Sleeper platform or via a chat-based bidding process, depending on Sleeper's capabilities