A Calle Odelius buyout spans 6 years, has a cost of $783,333 and savings of $1,566,667. Odelius is 20 years of age at the time of the buyout; therefore, the buyout ratio is 1/3. With $2,350,000 in salary remaining, the cost is $783,333, and the savings are $1,566,667. Buyouts span twice the length of the remaining years and because there are 3 years remaining in the contract, the buyout length is 6 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 |
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Jun. 15, 2024 | $2,350,000 | $95,000 | 3 | 6 | 20 | 1/3 | $783,333 | $1,566,667 | $130,556 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT (NYI) |
2024-25 | $775,000 | $815,000 | $95,000 | $130,556 | $225,556 | $644,444 | $170,556 |
2025-26 | $775,000 | $815,000 | $0 | $130,556 | $130,556 | $644,444 | $170,556 |
2026-27 | $800,000 | $815,000 | $0 | $130,556 | $130,556 | $669,444 | $145,556 |
2027-28 | $0 | $0 | $0 | $130,556 | $130,556 | -$130,556 | $130,556 |
2028-29 | $0 | $0 | $0 | $130,556 | $130,556 | -$130,556 | $130,556 |
2029-30 | $0 | $0 | $0 | $130,556 | $130,556 | -$130,556 | $130,556 |
TOTAL | $2,350,000 | $2,445,000 | $95,000 | $783,333 | $878,333 | $1,566,667 | $878,336 |