What happened: A receiving club can begin above the second apron but must finish a sign-and-trade below it. Any such contract involving Peyton Watson must run at least three years.
Why it matters: Restricted free agency preserves matching rights for Watson's current club. Unrestricted status would remove that control and let him choose among available offers next summer.
By the numbers: The choice is a one-year, $6.5 million qualifying offer or a sign-and-trade contract covering at least three seasons.
What to watch: Watch whether Watson accepts the qualifying offer or reaches a compliant multiyear agreement.