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Yes, I see this quite often as well.
Basically, it happens because teams sign free agents after their season is over but before their league FA's file. So they sign the guy, but his contract ends when their FA's file.
If you have alot of overlapping leagues then this could happen alot because their FA's don't file at the same time.
Apparently it's pro-rated but Im' not sure.
Not really a bug perse, but highly annoying if you ask me, just makes the AI look stupid.
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