Updated throughout the day with quick takes from staff.
Whenever the NFL lockout ends and free agency begins, there will be no right of first refusal. This is an important concession, and could mean big things for the players. Essentially, teams will have three days to re-sign players, then everything goes out the window and chaos ensues.
Super-agent Drew Rosenhaus is, understandably, pumped.
Great news! No right of first refusal on free agents! Yes!!less than a minute ago via Twitter for iPad 
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Drew Rosenhaus
RosenhausSports
Why is Rosenhaus excited about the right of first refusal going out the window? For him, and his clients, this latest revelation is akin to the sound of cash registers ringing up big purchases while money falls from the heavens set to the soundtrack of "Make It Rain." This is overstating it, of course, but with a rapid-fire free agency period and no right of first refusal, the NFL "offseason" of 2011 is going to be a feeding frenzy.
Teams will have to spend a certain amount of money -- somewhere just above $100 million -- to meet the cap floor. And because of the short free agency period, teams are probably going to overpay ... a lot. With three days to lock-up players before the bonanza begins, expect teams to overspend, knowing there's no right of first refusal safety net to fall back on.
Either way, Rosenhaus and his clients win. Whenever free agency starts, it's going to be one hell of a ride for teams, players looking for a new home and fans trying to follow the action.
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