Any released player signed for less than $1m will not count against the cap. Any released player signed for $1m+ still has his contract count against the cap at a buyout rate. The buyout for a player is equal to 66% of the players total remaining contract. This buyout may be paid out all at once in the current contract year, or it may be financed over the remaining length of the contract. The buyout cannot be financed longer than the current remaining contract. For example, a player with 2 years left on his contract cannot be bought out over 3 years. The maximum buyout years for that player is 2 years.
Releases are handled directly by the GM - simply remove the player from your Fantrax roster. Fantrax will automatically calculate the 66% buyout over the remaining length of the contract. If the GM wishes to pay off the buyout in fewer years they should post a transaction on the ProFSL board. Any other unique cap adjustments (like free drops for retired players and those under $1m) should also be posted about on the ProFSL board.
***A GM may at any time decide to re-allocate funds to a buyout. For instance, if LA is to buyout Doughty over 3 years, but in year 2 he realizes he has funds to spare, he may use funds in the 2nd year to pay off some or all of what he owes in the 3rd year in order to clear up future cap space.
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