Please welcome Kevin (kidd5jersey) as the new owner for the Jays. He'll have one week to announce his new owner contract buy out per the following rules.
All managers, upon admission to the league, will have the option to "buy-out" one existing contract on their team. The manager must post the selected contract and desired option in the transaction page within 1 week of admission.
There are three options to buy out a contract:
Option 1: Team pays 25% of the remaining contract during the following season.
Option 2: Team pays 40% of the remaining contract, spread over the following 2 seasons.
Option 3: Team pays 50% of the remaining contract, spread over the following 3 seasons.
For example:
Player has 4 years and $100 Million remaining on his contract. Manager decides to buy-out contract.
Option 1: Team pays $25 Million in upcoming season.
Option 2: Team pays $20 Million in upcoming season and $20 Million in the following season.
Option 3: Team pays $16.67 Million in upcoming season, $16.67 in following season, and $16.67 in the season following that.
