Damn, I really, really hate this rule, but this trade has to be reversed, because I was over my years cap by one year and didn't notice it w/in 24 hours. I didn't realize it until I completed my trade with Amish last night.
By the rules (which we will be discussing changing very soon), the trade is reversed and I take a 20% penalty. On a Coles salary of $787, that's $158. It is unclear to me if that's all on 2007, or half on 2007 and half on 2008. The rules don't say.
On the one hand, you could argue it's just like a penalty for cutting players, and those are split 50-50 during the off-season (soft cap until March 31).
On the other hand, the point of the soft cap for cut players is so that people can't dump them late scot-free in 2007 before 2008 kicks in. The rules only speak of cut players when talking about the soft cap. I'd argue that it's not like I'm getting some sort of benefit (as you do when dumping a guy early if the whole penalty is on the current year); it's a pure penalty w/ no benefit to me, so it should all go on 2007, the year I'm being penalized for.
I guess Brian and Jim will have to decide.
This sucks. My apologies to the Avengers. We can re-execute on Monday if you want. I will now probably have to make additional cuts to make room after the penalty is applied in order for us to trade again.
Sometimes I wonder if this league is too complicated for its own good

I have a lot of thoughts on this rule. Check out the discussion thread:
http://www.predsff.com/forums/showthread.php?p=62259