New Managers Only: Contract Buy-Out

[seanrmgallagher]

All managers, upon admission to the league, will have the option to "buy-out" one existing contract on their team.  The manager must post the selected contract and desired option in the transaction page within 2 weeks of admission.
There are three options to buy out a contract:
Option 1: Team pays 25% of the remaining contract during the following season.
Option 2: Team pays 40% of the remaining contract, spread over the following 2 seasons.
Option 3: Team pays 50% of the remaining contract, spread over the following 3 seasons.

For example:

Player has 4 years and $100 Million remaining on his contract. Manager decides to buy-out contract.

Option 1: Team pays $25 Million in upcoming season.
Option 2: Team pays $20 Million in upcoming season and $20 Million in the following season.
Option 3: Team pays $16.67 Million in upcoming season, $16.67 in following season, and $16.67 in the season following that.