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Free agents come in two main categories, unrestricted and restricted. In both cases a player's contract with his team has expired. The difference is when a player reaches the age of 25 ( and meets some other conditions) he owes his former team no obligations and is free to sign with any team in the league, including his old team. Thus he is UNRESTRICTED in who he can sign with. Prior to age 25, his rights are kept by his old team. Even if another team offers him a contract, it can be matched by his old team. Thus the player is RESTRICTED in who he can sign with.
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