What happens if a long-term deal is signed by July 15th?

When a long-term deal is signed by July 15th, it generally means that the player who has been given a Franchise Tag has successfully negotiated a new contract with their team. This outcome does not result in the loss of the Franchise Tag for the club, nor does it automatically make the player a free agent.

The Franchise Tag can be placed on a player for a limited time, typically one year, and if a long-term deal is reached, it represents a commitment from the team, thus preserving the right of the team to use the Franchise Tag. This means that the team can utilize the Tag on another player in the following year. The nature of the Franchise Tag allows teams to retain certain player rights, limiting their ability to reach free agency while giving teams leverage to negotiate long-term contracts with their most valued players. Thus, by signing a long-term deal by the July 15 deadline, the team can maintain its rights while setting the stage for the Tag to potentially be used on another player in the future.

The other options misinterpret the implications of signing a long-term deal under the Franchise Tag rules, thus confirming why the correct choice is directly relevant to the mechanics of navigating player contracts within the NFL.