Why NFL free agency resumes today – and it is not because of the Draft (at least not directly)

The second phase of the NFL free agency period begins today – and it is not (only) because the Draft is over.

The Miami Dolphins could resume their 2024 free agency signings this week, looking to plug holes that the roster still has following the first wave of signings and the completion of the NFL Draft. The team’s roster saw the addition of two edge rushers, a tackle, two wide receivers, a running back, and a safety during the Draft, followed by the signing of several undrafted free agents. As the team assess where their roster stands and what needs may still remain, the second round of free agency is getting ready to start – and it is not only because the Draft is over.

Under the collective bargaining agreement between the NFL and the NFL Players Association, free agent signings, as of Monday afternoon, will no longer count against compensatory picks for 2025. Compensatory picks are awarded to teams for the draft following the loss of free agents from the previous offseason. When it comes to the Dolphins, losing players like defensive tackle Christian Wilkins and guard Robert Hunt this offseason has them in place to score extra draft picks – potentially as high as third-round selections – in 2025 so long as they do not sign free agents that would cancel out the loss. The Miami front office has to be aware of that projection and has to protect themselves by receiving that compensation for losing highly talented players.

Previously, the end of the compensatory pick period was June 1. It then moved up to two weeks after the draft as a way to spark interest in some of the veterans who were still available on the market. Now, it is at 4 p.m. ET the Monday after the Draft concludes.

Welcome to the second round of free agency.

Starting Monday afternoon, teams will no longer have to worry about canceling any compensatory pick they may receive. Veteran signings will be back on the radar for the Dolphins and all the teams. Roster holes can be filled without risking future draft capital and veterans will be able to sign with a new team and enter the offseason training program, starting to work with new teammates and get used to the offensive or defensive systems being used.

Free agency is about to get a second act.