What happens if an ERFA player does not sign the tender offer by the deadline?

If an ERFA (Exclusive Rights Free Agent) player does not sign the tender offer by the deadline, they can only play for the offering club. This is because ERFA status applies specifically to players who have completed their time under the jurisdiction of their original team but have not accumulated enough credited seasons to qualify for unrestricted free agency. Therefore, if they fail to sign the tender, they remain bound to the conditions set forth by their current team and do not have the opportunity to negotiate with other teams.

This unique situation underscores the ERFA's limited negotiating power, as they can only accept the terms offered by the team that holds their rights. Other players with different statuses have more flexibility, but ERFAs are under a more restricted framework until they either sign the tender or the team moves on from the negotiation.