OOTP displays the financial issues strangely. Don't panic (yet).
The real financial year in OOTP switches over in February on the date when the game updates it's history files and other such things (always there on the auto-sim to tab). OOTP is just showing you that they are signed for the fiscal 2006 year, as well as the fiscal 2007 year.
It just gets really confusing when after your playoffs your Front Office and Player Salary reports will be showing guys finishing their contracts in the year you are playing, even though they aren't becoming free agents until the next year. For example, if a player is signed through the 2008 season, once you finish the 2007 season playoffs, the Salary report will show the player's last year of his contract as suddenly switching to 2007 (even though this isn't true). The real last year will be displayed properly again once the game switches itself over in February.
If contract dates aren't corrected in February, then you can panic. I'll have no idea what to say then.
