ProFSL: Pro Fantasy Sports Leagues
Fantasy Leagues => Franchise GM: Transactions => Franchise GM => MLB Leagues => Franchise GM: Completed Transactions => Topic started by: Colby on September 09, 2014, 06:18:11 PM
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Pirates are buying out James McDonald's contract
SP McDonald, James, $5.5m (2017)
Cut at 75/50/25/25% for 2014/15/16/17 equals $4m for 2015, $3m for 2015, and $1.5m for 2016-17
That is $11m ($10m + 10%) in total liabilities that the Pirates will take a $9m cap hit in 2014 and $2m in 2015.
As part of this move, the Pirates also release OF Aducci, Jim, $0.5m (P-n/a)
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Pirates are buying out James McDonald's contract
SP McDonald, James, $5.5m (2017)
Cut at 75/50/25/25% for 2014/15/16/17 equals $4m for 2015, $3m for 2015, and $1.5m for 2016-17
That is $10m in total liabilities that the Pirates will take a $9m cap hit in 2014 and $1m in 2015.
As part of this move, the Pirates also release OF Aducci, Jim, $0.5m (P-n/a)
I think you have to multiply the $10 by 1.1, which I believe comes out to an $11.0m buyout amount. Unless this is just a question of semantics, whereby you are simply dropping McDonald and not buying out his contract.
"Contract Buyout
Money owed to a player released under contract may be financed through a contract buyout. This can be done by adding up the total remaining contract amount, multiplying it by 1.1 rounded up to the nearest $500k. This amount may be divided up any way you choose as long as the number of years is not more than what it was before AND that no salary owed in any year is more than an amount in a prior year...."
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You are right Flash - see the updated post.
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Pirates are buying out James McDonald's contract
SP McDonald, James, $5.5m (2017)
Cut at 75/50/25/25% for 2014/15/16/17 equals $4m for 2015, $3m for 2015, and $1.5m for 2016-17
That is $11m ($10m + 10%) in total liabilities that the Pirates will take a $9m cap hit in 2014 and $2m in 2015.
As part of this move, the Pirates also release OF Aducci, Jim, $0.5m (P-n/a)
Fantraxed 9/17/14