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Post by Miege22 (SONICS) on Aug 15, 2015 21:03:56 GMT
WAIVERS 1. If you wish to release someone, you must first create a topic placing them on waivers in the waiver thread.
2. Once they are on waivers for a 24 hour period, and they are not claimed by any other team, the player will be released and put in the free agent market.
3. Once released you will take an 90% cap hit for the remaining years on the respected player's contract. So if a player is signed through 2021 to a $5,000,000 contract, you will have to pay them $4,500,000 per year through the remainder of that deal
4. If a player is claimed off waivers by another team, the winning team takes on the entire salary. The waiving team will have no cap hit.
5. The waiver priority list will be the reverse order of the previous years Standings.
6. You are on the hook for any player you waive, regardless of the circumstances. If a player retires, goes to Europe, goes to jail, or simply disappears off the face of the Earth, and you decide to waive them, you will pay the 100% cap hit.
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Post by Miege22 (SONICS) on Sept 6, 2018 23:01:52 GMT
BUYOUTS
Any player signed for a minimum of 2 seasons may be bought out for any reason at 75% of the player's TOTAL contract. The team would incur a one-time hit, that would expire at the end of the season. Teams may not buy out players after week 12 of the regular season. Any player that is bought out will be ineligible to be claimed via the waiver process. Opposing teams must still wait a minimum of 24 hours before placing a free agency bid on a recently bought out player.
Teams will be limited to 1 buyout every 3 years. The 3-year cycle will start in the summer of 2019, and run concurrently to the re-sign period.
For example, a player on your team is signed through 2021 to a $10,000,000/year deal. If you were to waive them this summer, with 3 years left on their deal, you would have to pay 75% of the TOTAL amount owed to them ($30,000,000).
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