FP Rules - a quick refresher:
Skaters with over six seasons of MLD service (796k salary) must retire. Goalies with over 250 minutes TOI must retire, at the end of the season in which they pass that mark.
One exception is allowed per team, and only one at a time - each team may designate a Franchise Player who continues to play past "regular" retirement.
FP skaters play to the end of their 9th season, and must retire before their 10th (approx. 1.7 mil salary). FP goaltenders play till the end of the season in which they exceed 350 minutes TOI.
Where ever an MLD player plays his first game, is the ONLY franchise he is eligible to become an FP for. FPs may not be traded. (Amended - final ruling - May 23 12:30 PM.)
Also please note - if a team does not currently have a player who requires FP status, the team's FP slot may be considered vacant. (Added May 26.)