Teams can negotiate with free agents from Monday, and franchises will be able to announce signings from Wednesday when the new league year begins.
The drop in salary cap, which is set at $182.5million, means many teams will have limited financial means with which to pursue their potential targets.
Yet there is a select group of players that will be able to command top dollar regardless of the economic challenges the coronavirus has presented.
Here we look at some of the players in that category by ranking the top 10 players set to hit the open market.
1. Shaquil Barrett - Tampa Bay Buccaneers
With the Buccaneers franchising wide receiver Chris Godwin, Barrett is set to hit the open market and will earn a long overdue payday. Pivotal to Tampa's success in Super Bowl LV, only T.J. Watt (29.5) has more sacks over the last two seasons than Barrett's 27.5.
2. Trent Williams - San Francisco 49ers
It is extremely rare for left tackles of Williams' calibre to hit free agency. Williams would not be doing so had the Niners agreed not to franchise tag him. There have been positive noises about him re-signing with San Francisco, but Williams will likely command over $20million a year. He has not allowed more than 3.5 sacks since the 2014 season when he gave up six.
3. Kenny Golladay - Detroit Lions
Golladay was not franchised by the Lions following an injury-hit 2020, but that should not cloud what he did in his first three years in the league. One of the league's top big-play threats, Golladay's 33 receptions of 25 yards or more ranked fifth in the NFL between 2017 and 2019.
4. Aaron Jones - Green Bay Packers
That the Packers elected not to pay Jones $8million for one season on the franchise tag is not reflective of the running back's tremendous skill set. He has 43 touchdowns from scrimmage since entering the league in 2017, the eighth-most in the NFL in that time.
5. Carl Lawson - Cincinnati Bengals
One of the most underrated pass rushers on the market, the sack numbers have not quite been there for Lawson. He had only 5.5 last season but was tied-ninth in the NFL in hurries and knockdowns with 65.5. Lawson should flourish playing on a superior defense to that of Cincinnati.
6. Joe Thuney - New England Patriots
Franchised last year, Thuney could become the league's highest-paid guard and deservedly so. The picture of reliability, he has allowed just 1.5 sacks over the past three seasons in New England, playing in every regular season game.
7. Bud Dupree - Pittsburgh Steelers
Dupree has 19.5 sacks in the last two seasons, but his free agency value will be hurt by the torn ACL that brought his 2020 to a premature end. He has shown a nose for the football during his surge in production, Dupree's six forced fumbles from 2019-20 the fourth-highest total in that span.
8. Corey Linsley - Green Bay Packers
Linsley's pending free agency may have influenced the Packers' decision not to franchise Jones. They will surely make effort to bring the center back, Linsley having allowed one sack this season. For the second time in three seasons, he did not commit a single holding penalty and played a pivotal role in a rushing attack that finished eighth in yards per game.
9. Trey Hendrickson - New Orleans Saints
Hendrickson enjoyed a breakout year for a Saints team mired in salary cap hell. He won't be back in New Orleans, but should have no shortage of suitors at the age of 26 after finishing tied-second in the NFL with 13.5 sacks.
10. Curtis Samuel - Carolina Panthers
Samuel perfectly fits an era where there is an increasing emphasis on wide receivers who can operate out of the backfield. He was second in rushing yards among wideouts with 200 and finished the year 11th in scrimmage yards per touch (8.9).