When you retire, your team will receive 75% of its contract back. If they offer you a 4 million dollar contract and you retire, they will receive 3 mill back. You may create a new player after you retire. Following the year of the player's retirement, the team will get back 100% of the contract. So if a player retires in his 1st year out of a 3 year contract, the team gets the full thing in the 2nd and 3rd year. Retiree must be logged in to retire.