What does it mean to be a restricted free agent?

A restricted free agent is a player who has completed a certain amount of time in the league but does not yet have the full unrestricted free agent status. This classification allows a player to negotiate with other teams; however, the original team has the right to match any offer sheet that the player receives from another team. By doing so, the original team can retain the player if they choose, which creates a scenario where other teams can attempt to sign the player, but they must do so knowing that there is a possibility the original team will match the offer.

This system gives the original team some level of control over their player while allowing the player the opportunity to explore their market value with other franchises. The nuances of being a restricted free agent serve to balance the interests of both players and teams, ensuring that teams can retain players they've developed while still allowing those players the opportunity to explore new opportunities.

The other options do not accurately reflect the nature of restricted free agency. For instance, being unable to negotiate with other teams is not part of this status, and neither is having no restrictions or being able to negotiate only with the original team.