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Post by Commish (Pete) on Jul 15, 2012 0:45:49 GMT -5
I didn't explain the rules for rookies very well, so I've made some additions:
Entry level contracts: Rookies taken in the entry draft or signed through free agency start with a contract of $500,000 for 1-6 years. After the contract expires the players is a restricted free agent(RFA).
Entry Level Free Agents
Any rookie (less than 10 NHL GP) not taken in the entry draft can be signed. There is no bidding on rookies, the first GM to post it on the UFA board signs the player to an entry level contract (ELC). There is a limit of 1 ELC signing per 24 hour period for each team. If you place the player on your minor league roster his salary doesn't count against the cap until you promote him.
Restricted Free Agents (RFA)
When a players entry level contract (ELC) expires he is a RFA. Each off season we will have a bidding period for these players. The opening bid must be his previous salary plus 10%. The minimum bid increment is $100,000. When the last bid has stood for 24 hours, the original owner can match the bid and sign the player to that amount for 1-3 years. If he/she chooses not to match, the high bidder signs the player for 1-3 years. When this contract expires the player is a UFA. There is no compensation for losing an RFA. If there are no bids for the player during the RFA period, the GM may re-sign the player to a contract of 1-3 years at a 10% raise.
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