A Damon Severson buyout spans 14 years, has a cost of $22,133,333 and savings of $11,066,667. Severson is 29 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $33,200,000 in salary remaining, the cost is $22,133,333, and the savings are $11,066,667. Buyouts span twice the length of the remaining years and because there are 7 years remaining in the contract, the buyout length is 14 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 | $33,200,000 | $8,800,000 | 7 | 14 | 29 | 2/3 | $22,133,333 | $11,066,667 | $1,580,952 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT (CBJ) |
2024-25 | $6,000,000 | $6,250,000 | $2,000,000 | $1,580,952 | $3,580,952 | $4,419,048 | $1,830,952 |
2025-26 | $5,500,000 | $6,250,000 | $2,000,000 | $1,580,952 | $3,580,952 | $3,919,048 | $2,330,952 |
2026-27 | $4,100,000 | $6,250,000 | $2,000,000 | $1,580,952 | $3,580,952 | $2,519,048 | $3,730,952 |
2027-28 | $3,300,000 | $6,250,000 | $1,800,000 | $1,580,952 | $3,380,952 | $1,719,048 | $4,530,952 |
2028-29 | $4,100,000 | $6,250,000 | $1,000,000 | $1,580,952 | $2,580,952 | $2,519,048 | $3,730,952 |
2029-30 | $5,100,000 | $6,250,000 | $0 | $1,580,952 | $1,580,952 | $3,519,048 | $2,730,952 |
2030-31 | $5,100,000 | $6,250,000 | $0 | $1,580,952 | $1,580,952 | $3,519,048 | $2,730,952 |
2031-32 | $0 | $0 | $0 | $1,580,952 | $1,580,952 | -$1,580,952 | $1,580,952 |
2032-33 | $0 | $0 | $0 | $1,580,952 | $1,580,952 | -$1,580,952 | $1,580,952 |
2033-34 | $0 | $0 | $0 | $1,580,952 | $1,580,952 | -$1,580,952 | $1,580,952 |
2034-35 | $0 | $0 | $0 | $1,580,952 | $1,580,952 | -$1,580,952 | $1,580,952 |
2035-36 | $0 | $0 | $0 | $1,580,952 | $1,580,952 | -$1,580,952 | $1,580,952 |
2036-37 | $0 | $0 | $0 | $1,580,952 | $1,580,952 | -$1,580,952 | $1,580,952 |
2037-38 | $0 | $0 | $0 | $1,580,952 | $1,580,952 | -$1,580,952 | $1,580,952 |
TOTAL | $33,200,000 | $43,750,000 | $8,800,000 | $22,133,333 | $30,933,333 | $11,066,667 | $32,683,328 |