Okay, I'm willing to accept that. As long as this is a one-time thing I think we can live with it without bothering with any special rules. Since we're set up to use the amateur draft and our international leagues have long free agency requirements, we'll probably be okay going forward. Hopefully the next version of the game will have some provisions for insuring that generated first year free agents can't be signed to such strangely structured contracts.
Thanks for the help, and consider this case closed!