1) the trade stands even if there is a cap problem. even if the commish cant get to the s'sheet to discover a problem, the non-offending team shouldnt be penalized by overturning the trade. 2) the penalty is for the amount in question, applied to the next years salary cap. 3) 2 remedies. a) offending team needs to drop a player to comply. b) other team kicks-in the amount. this team then receives the offending teams lowest/worst? draft pick as compensation. 4)all transactions by offending team will be suspended until the cap problem is resolved.
if you cut a player you are responsible for salary thru remaining years of contract. its 1/2 of current year then 1/4 of current year thru remaining years. suppose you cut a player with contract thru 2012. his current salary is 4mil. you then would owe 2mil, 1mil, 1mil. you can re-sign him and assign him a NEW salary to be paid concurrently with his 'cut' salary. i am paying hafner 2 salaries right now. hope this helps.