Free agency in NASCAR isn’t exactly like other sports. There are no franchises, and thus there are no free agency rules, no defined periods of negotiation, no salary caps, and no draft-pick compensation.

No NFL or NBA player would sign with a new team a full season-and-a-half out, but that’s exactly what Jamie McMurray and Kasey Kahne did in NASCAR’s Sprint Cup Series.

And don’t look for Carl Edwards: The Decision later this year.

Yet Edwards, the current Sprint Cup Series points leader, is nothing if not a classic free agent, if not LeBron James then perhaps the Albert Pujols of NASCAR. Like Pujols he started his career and became a superstar with one team. And like the Cardinals slugger, Edwards is ready for a career-defining contract.

He may well re-sign with Roush-Fenway Racing, but Edwards is certainly testing the waters. Roush-Fenway president Steve Newmark acknowledges his driver is talking to other teams (read, Joe Gibbs Racing, the only other top-tier team with an obvious seat for Edwards), telling our colleague Bob Pockrass of scenedaily.com, “Carl and I have talked about it. We understand other teams have reached out to him, and I have no issue with him engaging in discussions.”

Rumors that Gibbs was courting Edwards—and frankly it would be shocking if an organization of JGR’s caliber were not talking to a free-agent driver of Edwards capabilities—made the rounds this past weekend at Michigan. Edwards himself emphasized his comfort with his current team, while Gibbs Racing president JD Gibbs said he was focused on his current drivers and the current season.

Be that as it may, Gibbs may be able to lure Edwards into the fold. Edwards will be looking for two things in his next contract: performance on the track to go along with a massive payday, the NASCAR equivalent of an NBA max deal. Both his current employer and JGR offer championship-caliber equipment. But when it comes to driver compensation, a sponsorship package is key. Without corporate dollars, the driver doesn’t get paid, and finding those dollars is no mean feat these days.

Edwards no doubt values his relationships and track record of success with Roush. Roush gave him both an opportunity to become a Cup driver and the support he needed to succeed. And he is leading the points at the moment.

But like all professional athletes, he understands that the team’s loyalty to him lasts only as long as he’s performing. Just as the team owes it to fans and sponsors to put the best driver behind the wheel, Edwards owes it to himself and his family to secure the best situation he can.

I suspect Edwards will find himself back with Jack Roush in 2012. He—and potential sponsors—knows he can compete for a championship sitting in the 99 Ford. And although Gibbs may be able to put together a compelling package, there is no room at Hendrick Motorsports and probably not at RCR either. Stewart-Haas Racing, for all the impressiveness of its first two-and-a-half years in business, isn’t a top-tier team just yet. Penske still struggles too much. Richard Petty Motorsports is a poor-man’s Roush.

And even a perfect deal at Gibbs would still entail the risk of leaving the known and comfortable for the unknown.

But don’t assume Edwards return to Roush is a foregone conclusion, a deal in principle just waiting for the details to be ironed out. Carl Edwards is a free agent. He’s out on the open market, and he’s listening to offers—just like any free agent in any other sport.

At least we know he won’t be taking his talents to South Beach.