Some very interesting details have come to light this morning thanks to Soccer America. They were able to get their hands on some pretty detailed information on the league’s new re-entry draft that is set to begin the day after the 2010 MLS Cup in Toronto.

The new system begins on November 23 and will run until December 15. All the bits and pieces below from Soccer America aren’t 100% confirmed yet but it wouldn’t surprise me if this is how things will go down following the end of this season.

If you recall last winter this was a big part of the new CBA. It was to help out of contract players have some sort of say where they could go or what they’d like to do. These players can now test their “value” on a new market. Before the new CBA players that were out of contract had their player rights held by their old team. Teams could “offer” them what they deemed reasonable in terms of a new contract but most of the time it was a low-ball approach. Teams were not obligated to offer salaries competitive with those of comparable players within the league.

Soccer America gave the example of the New England-Colorado trade last year that sent Jeff Larwentowicz to the Rapids after the Revs offer the defensive-midfielder a low contract. He’d earned $34,650 in his final year with the Revs; his base salary in Colorado this year is $150,000.

Below are the fun details from Soccer America. What do you all think of this new system?

The new CBA replaces reasonable with “bona fide offer” and other terms that are specified.

Example (excerpt):

A. “Bona Fide Offer” is an offer from MLS to an Out of Contract Player that meets the following minimum conditions: (1) for “25/4 players,” contains a first-year salary at least equal to the player’s 2010 annual base salary and for “30/8 players,” contains a first-year salary at least 5% greater than the player’s 2010 annual base salary; (2) a term of 1+1+1; (3) option year salaries that increase by at least 5% each year; (4) performance bonuses that are at least the same as the performance bonuses in the previous year of the player’s contract; (5) for purposes of Stage 1, this offer must remain open from November 30 until at least December 3 at noon EST; and (6) for purposes of Stage 2, this offer must remain open from December 8 until at least December 13 at noon EST. (end excerpt)

“Stage 1” and “Stage 2” refer to separate drafts, to be held Dec. 8 and Dec. 15, respectively. Stage 1 consists of clubs picking players at their Option Decline Price – the salary they would have earned in the next option year of their contract – and Out of Contract players at their Bona Fide Offer price. Teams will have periods of time during which they can re-sign their own players; they may risk losing them to the Re-Entry Draft if they fail to do so.

Players older than 30 and with at least eight years of MLS experience [30/8 players] whose contracts are expiring, such as Wizards defender Jimmy Conrad, will have an opportunity to test the new system, and so can any younger player under the “25/4” category whose option has been declined. Players who fall short of the “25/4” requirements will not go into the Re-Entry Draft if their option is declined; their current team retains a right of first refusal.

TIMELINE. Here are the proposed dates on which the various stages of player distribution are scheduled to take place (all times Eastern):

Nov. 22: 1 p.m. – Trade window closes; 2 p.m. — clubs submit Expansion Draft lists of protected players; 5 p.m. – league office issues list of players available for selection by Vancouver and Portland.

Nov. 24: 2 p.m. – Expansion Draft; 2:30 p.m. – Official Waiver Draft list released; 3 p.m. Waiver Draft; 3:30 p.m. – Waiver Draft for players not eligible for Re-Entry Draft.

(In the Expansion Draft, teams can protect no more than 11 players and pull one player back if one is selected. Vancouver and Portland will each select 10 players.)

Nov. 30: 2 p.m. – Teams notify office of players whose options they are exercising and which are being tendered Bona Fide Offers; 5 p.m. – League office sends out: 1) option exercise letters; 2) Bona Fide Offer letters; 3) e-mails to clubs and MLSPU of players whose options have not been exercised and who are not receiving Bona Fide Offers.

Players in categories 1) and 2) will not be placed in the Re-Entry Draft; players in 3) will be included in the Re-Entry Draft unless they opt-out.

Nov. 30–Dec. 3: Teams may sign their own Re-Entry Draft eligible players to new contracts, and conduct sign-and-trade deals.

Dec. 3: Noon – Clubs may withdraw Bona Fide Offers tendered on Nov. 30. 2 p.m. – Blackout period (until Dec. 9) of sign-and-trade deals with their own draft-eligible players. 5 p.m. – Re-Entry Draft Stage 1 list of players issued to clubs and MLSPU.

Dec. 8: 2 p.m. — Stage 1 of Re-Entry Draft. Clubs pick in same order as Waiver Draft (reverse order of 2010 finish), Vancouver 17th , Portland 18th. Draft continues until no more teams wish to make selections. Teams cannot pick their own draft-eligible players. 5 p.m. – Players picked in Stage 1 are notified by the league office.

Dec. 9-13: League attempts to sign players not selected in Stage 1. Blackout period is lifted and teams may again attempt to re-sign their Re-Entry Draft eligible players, and conduct sign-and-trade deals.

Dec. 13: Noon – Teams may withdraw their Bona Fide Offers; 2 p.m. – Re-Entry Draft Stage 2 list issued. Blackout period imposed during which players may not re-sign their own draft-eligible players.

Dec. 15: 2 p.m. – Stage 2 Re-Entry Draft continues until all teams decline to make further selections. A player not under contract selected in Stage 2 must be made an offer by the club (and approved by the league) within seven days.