What is meant by 'Right of First Refusal' in regards to RFAs?

The 'Right of First Refusal' is a key concept in the context of Restricted Free Agents (RFAs) in the NFL. This term signifies that the player’s current team has the opportunity to match any contract offer that the player receives from another team within a predetermined time frame. If the current team chooses to exercise this right and matches the offer, the player remains with that team under the terms of the new contract. This mechanism is designed to prevent teams from poaching players without giving the original team a chance to retain them, fostering team stability while allowing players the opportunity to negotiate potentially better deals elsewhere.

Understanding this concept is crucial for anyone involved in player negotiations or contract discussions, as it provides a balance between protecting both the interests of the player and the team.