How does a player become a Restricted Free Agent?

A player becomes a Restricted Free Agent when their current team extends a qualifying offer to them. This process allows the team to maintain some control over the player's future, as they can match any offer sheet the player receives from other teams. This concept encourages teams to invest in their young players while also providing players the opportunity to negotiate with other franchises, promoting competitive balance within the league.

The qualifying offer also establishes a salary range for the player, which is crucial in maintaining fairness and competitive integrity—factors essential in player negotiations. In this scenario, the player is effectively offered a chance to seek new opportunities while allowing their current team the right of first refusal.

The other choices do not accurately reflect the requirements or the process leading to Restricted Free Agency. Playing less than three seasons generally qualifies a player for unrestricted status rather than restricted, being undrafted does not inherently lead to Restricted Free Agency, and not being signed by the start of the season relates to different contractual conditions altogether.