Nov. 4 is the final day for teams to offer potential free agents a qualifying offer. The player can either accept or decline the offer.
If the player declines the offer and signs elsewhere, the team that extended the offer will get a compensatory draft pick in return. That draft pick would take place between Rounds 1 and 2.
Also, based on how large the contract is, the team that signs a player who received a QO would also have to forfeit draft picks.
The New York Mets are taking advantage of this system by offering pending free agent Zack Wheeler a QO, according to Anthony DiComo.