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I cannot get under the cap in a league. I am $59M over the Cap and the cap hit of my entire remaining roster is $46M (I already cut a TON of Players). So the system will cut everyone and I still will be over the cap by $13M. The cap for this year is $334M. I have Dead Cap for NEXT season of $477M (and that will increase when the system cuts everyone).

So - how will this work? The system will cut everyone, but there won't be any money to sign anyone - Has anyone seen how this has been handled in the past?

I believe you can always sign players to 1 year minimum deals with no bonus regardless of cap so that you can always field a roster. I'm not sure exactly what the AI will do after cutting players to get under the cap

Looks like I will have 2 years of 0-16 followed by serious rebuilding