Free Agency opens Friday, September 5th @ 7:30 PM EST.
Both Unrestricted Free Agents and Restricted Free Agents will be open for bidding. Bidding on players will be done through the message board bidding system.
To cut down on the updates and work for Bryce and I, each GM will be able to simply place a bid on a player by making a post on the players thread.
ALL POSTS / BIDS ARE FINAL.
i. Unrestricted free agency will work simply on a highest bidder format.
ii. To place a bid on a player, you must increase the bid of the previous offer of no less than $250,000.
iii. A team that currently has a player already on their roster, despite them entering Free Agency, will get a home discount in that a player will give the home team a 10% discount in negotiations. So a 1 year 1 million offer from another team is equal to a 1 year 900k offer from their prior team.
iv. Once a bid is placed on a player another team has 48 hours to bid more for that players service. If no one bids higher, that player will sign
v. When a team that has the home team discount bids on a player, the value of the bid will be displayed as a 100% offer. So if a home team offers 1 year for 1.8 million per season it will be displayed as a 2 million dollar bid.
vi. Signing bonuses may not exceed have the TOTAL contract amount. So a 4 year 2 million dollar offer may not have a signing bonus of more than 4 million.
vii. The total value of a bid on a UFA is calculated by; (yearly salary + (total signing bonus/years)). So in the prior example of a 4 year 2 million dollar deal with a 4 million dollar signing bonus that is worth 3 million per season.
viii. The player will sign with whichever team offers them the highest average salary per season.
ix. Teams must have the money in their current finances in able to offer signing bonuses, and may not go into the negative from paying the signing bonuses.
x. Teams may NOT release players during unrestricted free agency. The only transactions allowed during free agency are actual trades between teams. A buy out period prior to UFA will open and close.
xi. Teams may exceed the cap during the off-season, by no more than 3 million per season.
xii. GMs who place a bid that puts their team over the $3,000,000 grace period will have their offer voided and the team will no longer be allowed to bid on the player.
xiii. A team that is over the cap cannot make any bids, even if they are under the grace period.
C. Signing Bonuses
i. All signing bones cannot exceed 50% of the total years value of the contract. For example a 3 year deal worth $1,000,000 per season would equal a signing bonus of a maximum of $1,500,000. Please adhere to this formula when sending in offers: (Contract Length x Dollar Amount) / 2 = Maximum Signing Bonus.
The period to buy out a player ends on September 2nd, 10PM EST.
K. Roster Buyouts follow this formula:
Buyouts are based on the years left and the amount the player makes per year. Buyouts are paid for via BRHL2 Funds. 1 year - 50% 2 years - 30% 3 years - 20% 4 years - 15% 5 years - 10%.
i. For Example: A player with 3 years left, and a salary of $3,700,000. 3,700,000 x .5 = 1,850,000 3,700,000 x .3 = 1,110,000 3,700,000 x .2 = 740,000
