NO !....he could be traded, but he can NOT sign an extension. 
  
(k) Any Club designating a Franchise Player shall have until 4:00 p.m., New 
York time, on July 1 5 of the League Year (or, if July 1 5 falls on a Saturday or Sunday, the 
first Monday thereafter) for which the designation takes effect to sign the player to a 
multiyear contract or extension. After that date, the player may sign only a one-year 
Player Contract with his Prior Club for that season, and such Player Contract may not be 
extended until after the Club's last regular season game of that League Year. 
  
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