Many New Orleans Saints players are set to enter unrestricted free agency, giving them the opportunity to negotiate with new teams and potentially land a big payday. However, five of their teammates are going into March’s signing period with restricted free agency status. Here’s what that means.

Restricted free agents can negotiate with other teams, but their current squad can claim the right of first refusal through exercising one of several different one-year contract tenders. But the ability to match contract offers comes with a price.

The latest projections from Over The Cap suggest tender values in the range of $4,667,000 (for first-round pick compensation) to $3,278,000 (second-round pick compensation), and $2,144,000 (for original-round draft pick compensation). Those totals are fully-guaranteed against the salary cap.

New Orleans doesn’t have a good history with restricted free agency. They have only used the lowest tender level in recent memory, and rarely matched opposing contract offers. They let wide receiver Willie Snead leave uncontested when the Baltimore Ravens signed him to a two-year, $7 million deal in 2018. Backup tight end Josh Hill signed a three-year, $7.5 million offer sheet with the Chicago Bears in 2016, but the Saints matched it and extended him again in 2018.

They didn’t even tender defensive tackle Tyrunn Walker back in 2015, despite it only costing about $1.54 million at the time and Walker having shown some rare bright spots in a historically-bad defense (the Detroit Lions signed him to a one-year, $1.75 million deal, and re-upped him the next season). He’s an example of a player the Saints hoped they could keep on a veteran’s minimum salary, which is obviously a riskier option.

But things are projecting differently in 2020. There’s a good chance the Saints exercise one of the more-valuable tender options; in fact, they may have to. They could also work out long-term contract extensions if they so choose; Saints kicker Wil Lutz did just that last year, when he was a restricted free agent. Here are the five Saints players that qualify, and what the team should do with each of them.

Justin Hardee, cornerback

Hardee’s had an interesting career path, and now he’s one of the Saints’ central special teams aces. He plays often on the punt and kickoff units, and led the team in snaps played in the game’s third phase (362) last season, outpacing even Craig Robertson (324) and Taysom Hill (286). He’s someone the Saints coaches have invested years of development in, and should definitely try to keep around for the future.

The question they have to ask now is how much Hardee’s contributions are worth. He doesn’t play defense (just 37 snaps logged last season) and is still learning the position’s finer points after entering the NFL as a wide receiver. He can’t be counted on just yet to be a top backup behind Marshon Lattimore and Janoris Jenkins. But his presence on special teams speaks for itself, and the Saints might do well to sign him to the lowest contract tender, then wait and see whether the market can set a price on his long-term contract value.

Verdict: Sign him to a right-to-match tender.