Contract Buyout/Player Release

[BHows]

After having done transactions a few times in the past few days I've come to the realization that we've done a number of them wrong.
Rules state that a player can be released from his contract and that discounts are given according to the time of year. The rule for a Contract Buyout is- "This can be done by adding up the total remaining contract amount, multiplying it by 1.1 rounded up to the nearest $500k", among other stipulations. Unfortunately, in a few instances lately we have been applying both rules.
Sorry folks, I'll be more vigilant in the future.

[Flash]

After having done transactions a few times in the past few days I've come to the realization that we've done a number of them wrong.
Rules state that a player can be released from his contract and that discounts are given according to the time of year. The rule for a Contract Buyout is- "This can be done by adding up the total remaining contract amount, multiplying it by 1.1 rounded up to the nearest $500k", among other stipulations. Unfortunately, in a few instances lately we have been applying both rules.
Sorry folks, I'll be more vigilant in the future.

The precedent for buyouts was established when rcankosy was the FGM commissioner--I will research this further, but it was established in relation to the release and buyout of Albert Pujol's $27.5m contract.  It was established that the player is first released and then the remaining amounts of the contract are added together and the multiplied up to the nearest $0.5m. 

This practice has gone on for the past three seasons and that is what we have been doing from the rcankosy era through the shooter47 era to today. 

It is not something that was formally approved by the Rules Committee.  It was a Commissioner's ruling and has been the accepted practice.

[BHows]

I like more info on this if you can find it. The 1.1% penalty is the price you pay for not keeping money on your books in future years. You shouldn't get a discounted contract to boot.

[Flash]

I like more info on this if you can find it. The 1.1% penalty is the price you pay for not keeping money on your books in future years. You shouldn't get a discounted contract to boot.

I was mistaken regarding the time frame.  On September 10, 2013, the Brewers initiated a contract buyout for Albert Pujols and I questioned it because in a previous season rcankosy did not let me release and buyout.  So when the Brewers did it, I questioned the validity of doing so.  However, shooter47, as Commissioner, established the release/buyout process in 2013 and it has been utilized several times since that time. 

It is the process that has been used during the current season and has been used properly according to past practices.  Here is the link where shooter47 made his ruling as Commissioner in regards to buyouts.  In the thread, you can follow the conversation between interested parties and Shooter47's final resolution--ironically, you processed the transaction on Fantrax. 

http://www.profsl.com/smf/index.php?topic=110532.0

[BHows]

I stand corrected. While I don't agree with it, precedent has indeed been set and and the rules have been followed accordingly.

[chrisetc21]

Maybe we could update the rules to be more clear. 

[Flash]

Maybe we could update the rules to be more clear.

You probably already received a PM from BHows, but rest assured, a rules update is in the works.