WHAT ARE THE RULES REGARDING EXTENSIONS OF EXISTING CONTRACTS?
A 6- or 7- year contract can be extended when at least four years have passed since the signing of the contract. A 4- or 5- year contract can be extended when at least three years have passed since the signing of the contract. A contract which has already been extended can be extended again after three years. Raises in the extension are limited to 20% of the salary in the last year of the existing contract. (Of course, none of this applies to the three-year contracts signed by first-round draft picks. Those rules are covered in another question.) 27. WHAT ARE THE RULES REGARDING RENEGOTIATIONS OF EXISTING CONTRACTS? A contract may be renegotiated when three years have passed since it was signed. Salaries may not be renegotiated downward (i.e., the renegotiated contract must have at least the same salary in each year as the original contract). Salaries may be renegotiation upward, but only to the extent that the team has room under the cap. 28. WHAT IS A RESTRICTED FREE AGENT? Restricte
