We're going into our first off-season bidding auction. It's open, visible bidding (not blind bids).
Auction continues until nobody increases a bid for 24 hours.
Let's say after 20 hours the team with the high bid decides they no longer want that player.
Can they retract their bid?
If not, can they reduce their bid below what was the previous high bid?
In either case, does the 24 hours start all over again?
If neither of the above is possible, do I need to cancel that auction and start it all over again?