@davisports The 1 yr contract stands for all 3 players. Once you are awarded a player, you have a limited time frame to post your contract terms. You did not do so in ~36 hours, so you were assigned the standard contract. For a $500k annual salary, that is a 1 yr deal.
You have the option to extend this player once the new season begins. Extension values begin at $1m. Please refer to the league handbook for details beyond this. Thanks.
P.S. This applies to the other two players that you were just awarded as well.
Halloween