Yes, the Bobcat has a aerating (red) spray head. Pulling on that head pumps the livewell dry. The ports in the livewell for draining are open in the bottom (no screens) and you need plugs in those lower holes, which the boats come with from us. The Red spray head controls the main aeration, and the head has a Venturi that draws micro air into the water stream, then pulling the head out opens a valve for pumping the livewells empty.
The overflow near the top allows the water to exit and recirculation must be done by another pump, as would normally freshwater. That should cover it.
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