Which type of players can enter into a 5-year contract?

The correct answer is that qualifying veteran free agents can enter into a 5-year contract. This group of players includes individuals who have completed a specific number of years in the league and have already accumulated certain rights and privileges from their tenure. As qualifying veteran free agents, they have the ability to negotiate longer contracts, which in this case can last up to five years.

This is significant because it allows these more seasoned players to secure stability and potentially higher compensation based on their experience and contributions to a team, relative to other player classifications who may have limitations on contract length or structure, like rookie scale players who are dictated by predetermined scales, or two-way players whose contracts are generally shorter and subject to distinct rules concerning their participation in the NBA and G-League.

Furthermore, restricted free agents have the ability to negotiate with other teams, but their contract length is usually influenced by the offer sheets and the rights of their original team to match offers, typically leading to shorter terms if matched or other limitations based on league rules. Thus, qualifying veteran free agents hold a unique position in terms of contract negotiation capabilities.