Why are teams not allowed to sign free agents near the end of the season?
Free agent signings are frozen at a certain day so that teams can’t drastically change their lineups during the playoffs. In the past, non playoff teams would release players to the free agent pool where playoff teams would pick them up. So, you would have mediocre teams from the regular season rolling through the playoffs because they either picked up free agents or traded players with their friends. This way you know what you are getting when you play a team in the playoffs.