Which of the following describes a restricted free agent?

A restricted free agent is a player who, after the expiration of their rookie contract or a previous contract, is allowed to negotiate with other teams. However, their original team holds the right of first refusal, meaning that if another team makes an offer, the original team can choose to match that offer and retain the player. This system is designed to give teams a chance to keep their young talent while still allowing players the opportunity to explore their market value.

This status arises when a player's contract is up, but they have not accrued sufficient service time to become an unrestricted free agent. By allowing the original team the ability to match any offer, it balances player movement with team retention in the league, ensuring that teams can maintain their core players while still providing the opportunity for player mobility.

In contrast, a player who can sign with any team would qualify as an unrestricted free agent, a player with expiring contracts retains no binding obligations, and a player under suspension does not pertain to the classification of free agency at all.