When is a player eligible for a fifth-year option in their rookie contract?

A player is eligible for a fifth-year option in their rookie contract after completing the third year of their contract. This provision is typically applicable to first-round draft picks and allows teams to retain a player for an additional year before they reach free agency. The fifth-year option must be exercised prior to the beginning of the fourth season, based on the player's performance and potential.

Players selected in the first round have their contracts structured with a four-year term and an option for a fifth year, which gives teams flexibility to evaluate the player's contributions and make decisions accordingly. The consideration for whether to exercise this option can depend on various factors, such as the player’s on-field performance, injuries, and the team's salary cap situation.

While players do complete their first year and second year before the option becomes relevant, it is only after concluding the third year that the team assesses the player's overall progress to determine if they would benefit from extending the contract for an additional season.