A Connor Mackey buyout spans 4 years, has a cost of $1,033,333 and savings of $516,667. Mackey is 27 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $1,550,000 in salary remaining, the cost is $1,033,333, and the savings are $516,667. Buyouts span twice the length of the remaining years and because there are 2 years remaining in the contract, the buyout length is 4 years. The buyout cap hit is displayed in the Cap Hit Calculations table below.
Cost Calculations
BUYOUT DATE | BASE SALARY REMAINING | S.BONUS REMAINING | YEARS REMAINING | BUYOUT LENGTH | AGE | BUYOUT RATIO | TOTAL COST | TOTAL SAVINGS | ANNUAL COST |
---|
Jun. 15, 2024 | $1,550,000 | $0 | 2 | 4 | 27 | 2/3 | $1,033,333 | $516,667 | $258,333 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT (NYR) |
2024-25 | $775,000 | $775,000 | $0 | $258,333 | $258,333 | $516,667 | $258,333 |
2025-26 | $775,000 | $775,000 | $0 | $258,333 | $258,333 | $516,667 | $258,333 |
2026-27 | $0 | $0 | $0 | $258,333 | $258,333 | -$258,333 | $258,333 |
2027-28 | $0 | $0 | $0 | $258,333 | $258,333 | -$258,333 | $258,333 |
TOTAL | $1,550,000 | $1,550,000 | $0 | $1,033,333 | $1,033,333 | $516,667 | $1,033,332 |