Within our list of 2025 free agents, there are currently 14 players in the "restricted free agents" section. However, not all of these players will actually become restricted free agents this offseason.
In order to make those players restricted free agents, their teams must issue them a qualifying offer, which is essentially a one-year contract offer that gives the club the right of first refusal in the event the player wants to sign with another team.
In some cases, that qualifying offer is a mere formality. There was a never a scenario in which the Sixers didn't extend a QO to Tyrese Maxey last offseason, for instance. But if the player's club decides not to issue that QO, he becomes an unrestricted free agent, able to freely sign anywhere.
Even if a team wants to retain a certain free agent, it might not make sense to tender him a qualifying offer if the club isn't comfortable with the idea of him actually accepting that offer due to the cost of the QO or the club's overall cap situation.
Last summer, New York opted not to issue a QO worth approximately $6.28MM to Precious Achiuwa, even though the team hoped to keep him. The Knicks were able to eventually re-sign Achiuwa to a one-year, $6MM deal after gaining a clearer understanding of their salary cap situation in free agency.
Of course, in other cases, a team that doesn't issue a qualifying offer to its potential restricted free agent is simply fine with the idea of losing that player. The Pistons passed on a $7.74MM QO for James Wiseman last offseason, then watched him sign a minimum-salary contract with Indiana as an unrestricted free agent.
In total, just 11 of 27 players on standard contracts (ie. non two-way deals) who were eligible to receive qualifying offers last June got them from their respective teams. A similar process could play out this time around.
Here's an early look at which potential restricted free agents are good bets to get their qualifying offers and which ones might end up as unrestricted FAs:
Imagine preserving your cap space like this just to light it on fire for cam Thomas lol
He’s got such a small cap hold it’s really irrelevant
Should’ve traded for anything you could
That cap hold can land you a first rounder