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Giants drop and buyout the contract of:C Paulino, Ronny, $1.5m (2013)Salary obligation for 2012 & 2013 = $1.0mContract buyout: $2.0m x 1.1 = $2.2m, rounded up to $2.5m $1.5m x 2 = $3m x 1.1 = $3.3m rounded up to $3.5m total contract buyout. Do you still wish to buy out the contract? This amount should equal the salary cap relief the Giants got when Wilson, Hughes, and Ramirez were dropped.Additionally, in order to make sure this contract buyout is covered, the Giants also drop OF Justin Christian, $0.5m (P-n/a).
$1.5m (2013) is cut first at 75/50% which is $1.125m and $750k, which totals $1.875m, multiply that by 1.1 and you have $2.063m which rounds up to $2.5m
The rules may need to be revised to be more clear. Note that the rule states the player is released. In order for the player to be released, their cap hits need to be adjusted accordingly. This is how all prior buy-outs have been handled.
According to my research there has only been one contract buyout in FGM history so the rule hasn't really been used. Found here http://www.profsl.com/smf/index.php?topic=6252.msg28225#msg28225
You can't release the player, and subsequently buyout the contract in the same cap year. To allow it would circumvent both the spirit of the rules and the rules by which you can release a player. You can only buyout the contract for a player who was released in a previous cap year.
The spirit of the rule was to condense all of a released player's liability into the current year. When has it been said that a player could only be bought out if they were released in a prior cap year? The language of the rules likely needs to be updated, but I see no problem with allowing a current drop to be turned into a buy-out. The GM has to pay much more just to buy-out the player and reduce future liability which is the pro and con to the clause.