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An unrestricted free agent is free to take the highest offer from whoever offers it. A restricted free agent can shop around for the highest salary. But, the team that owns him has the option to match that highest offer and the player must accept it.
If there is no salary cap, the offers to free agents should be significantly higher, especially if a bidding war ensues. But, this will probably be a 1-year offer, since there should be a cap with the new collective bargaining agreement in 2011.
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