I thought they had to the 2nd of March. Once that comes, they have until the 15th of July to offer a long term contract. Am I misunderstanding something?
March 8-11: Clubs are permitted to contact, and enter into contract negotiations with, the certified agents of players who will become unrestricted free agents upon the expiration of their 2013 player contracts at 4 p.m. ET on March 11. However, a contract cannot be executed with a new club until 4 p.m. ET on March 11.
March 11: New league year, free agency begins
March 11: Before 4 p.m. ET, clubs must exercise options for 2014 on all players who have option clauses in their 2013 contracts.
March 11: Before 4 p.m. ET, clubs must submit qualifying offers to their restricted free agents with expiring contracts.
March 11: Before 4 p.m. ET, clubs must submit a minimum salary tender to retain exclusive negotiating rights to their players with expiring 2013 contracts and who have fewer than three accrued Seasons of free agency credit.
March 11: All clubs must be under the 2014 salary cap before 4 p.m. ET.
Basically on March 11th a team can offically sign any FA it has negotiated with between March 8th-11th at 4pm ET on the 11th. You dont want The large cap hold of the franchise tag limiting you on March 11th but before that it doesn't have much affect.