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Football 2023 NFL Draft Penn State UDFA Tracker

Pardon my ignorance but how does this work? Is there a standard NFL UFA contract or is it a free market? Do guys who get several offers get to pick and choose? Are there bidding wars for those with multiple offers? Or do players simply jump on the first team that offers? From the teams' perspective, is there a limit to the number of UFAs offered/taken?
 
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