There are two ways you can release a player. At any point during the season, you may go to your GM's Office and click the "Release" button next to the player you wish to release. This action will release the player, but you will not receive anything in return except the units in which you were paying that player. You can also use the Waiver Wire to release a player and gain another in return. Note that only players signed to professional contracts may be released during the season.