A K'Andre Miller buyout spans 2 years, has a cost of $1,548,667 and savings of $3,097,333. Miller is 24 years of age at the time of the buyout; therefore, the buyout ratio is 1/3. With $4,646,000 in salary remaining, the cost is $1,548,667, and the savings are $3,097,333. Buyouts span twice the length of the remaining years and because there is 1 year remaining in the contract, the buyout length is 2 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 | $4,646,000 | $0 | 1 | 2 | 24 | 1/3 | $1,548,667 | $3,097,333 | $774,334 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT (NYR) |
2024-25 | $4,646,000 | $3,872,000 | $0 | $774,334 | $774,334 | $3,871,666 | $334 |
2025-26 | $0 | $0 | $0 | $774,334 | $774,334 | -$774,334 | $774,334 |
TOTAL | $4,646,000 | $3,872,000 | $0 | $1,548,667 | $1,548,667 | $3,097,333 | $774,668 |