No, there wont be an option to cancel it, as it's ripe for abuse.
Being able to buy your own player can be abused, but any savvy owner will simply not bid on a player that the selling team has bid on.
NO ONE at this table ordered a rum & Coke
Charles: Penn has some good people
A CT? Really?
Any two will do
Any three for me
Any four will score
Any five are live