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each year the nfl holds a draft of eligible college players. the draft is configured so that the team with the worst won-lost record gets to pick first in the draft (unless the team has given that pick to another team thru trades,etc)the teams have rounds (8) which they pick the player they want .

free agents have two catergories undrafted college players and nfl players whose contract with their team has expired or the team has let go. a signed free agent either pro or college has contract that binds him to that team.

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Q: What is the difference between a draft pick and a signed free agent in the NFL?
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