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Of course! Since you're in late July, the player has been paid over half of his salary so far. When you trade for him, you're only taking on what hasn't been paid yet because the rest is what the player made playing for his original team which you obviously wouldn't have to pay.
So if it's game 81 of 162, you would be on the hook for exactly 50% of the salary or $11,500,000.
Hope that makes a little more sense!
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