Players can still be bought out, but it will count against the cap. The no-penalty buy-outs were a one-time deal. Now, if a player is bought out at 2/3 of his salary, the money paid counts against the cap for twice the amount of years remaining. For example, a player has a contract worth $6 mil per year for another 3 years. If he's bought out at $12 mil, it counts as $2 mil against the cap for 6 years.