Free Agency

[Laimbeer40]

Free Agency:
Free Agency will be year round except for the playoffs.
Any player released or not resigned will be available for FA.
Bidding will be done in the transaction board and it is in terms of total salary. Once you are the high bidder for 48 hours you will win the said player. After winning the player you have 72 hours to post the contract that abides by the Contract rules.
Bids must be increased by at least $0.5m. Bids higher than $10m must be increased by at least $1m. You can only have a max of 5 winnings bids at any one time. If you have 5 winning bids, you must wait for one of them to be finalized or to be outbid before you can bid again.
At no time may the team go over the cap. So if you have 2m in space you are not allowed to have outstanding bids that total more than 2m at any point.
At NO TIME may you edit a bid after it has been posted. If you edit a bid, it will be invalid.

Restricted Free Agency:
If a player is an RFA then bidding will be done for the said player. The team who currently owns the player does not need to bid. Once the high bid stands for 48 hours the owning team has the option to match the offer. If they match it, they keep the RFA for that cost. If they do not match it, the RFA then goes to the winning bid. The team will have 24hrs to match the offer or the player is lost.
An RFA may be extended before Feb. 1 of the last year of the contract. When extending an RFA you multiply his extension salary by 1.2 resulting in his salary.
In RFA, if a player is not bid on, they may be signed to the league minimum of $0.4m for 1 or 2 years or they can be released to FA.

Once RFA starts you can no longer trade RFA rights. Any deal for an RFA after bidding has started must be done as a sign and trade thus you have to have the cap space to match the RFA bid prior to trading.

[Laimbeer40]

Update: RFA re-signs should follow the new contract structure when no one has bid on an RFA.

League minimum is now $0.8m

You can re-sign for:

1 yr @ $0.8m, then player becomes automatic RFA the following season
2 yr @ $2.5m, which is the minimum contract for 2 seasons