A Robert Thomas buyout spans 14 years, has a cost of $18,666,667 and savings of $37,333,333. Thomas is 24 years of age at the time of the buyout; therefore, the buyout ratio is 1/3. With $56,000,000 in salary remaining, the cost is $18,666,667, and the savings are $37,333,333. 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 | $56,000,000 | $0 | 7 | 14 | 24 | 1/3 | $18,666,667 | $37,333,333 | $1,333,333 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT (STL) |
2024-25 | $10,900,000 | $8,125,000 | $0 | $1,333,333 | $1,333,333 | $9,566,667 | -$1,441,667 |
2025-26 | $10,500,000 | $8,125,000 | $0 | $1,333,333 | $1,333,333 | $9,166,667 | -$1,041,667 |
2026-27 | $8,250,000 | $8,125,000 | $0 | $1,333,333 | $1,333,333 | $6,916,667 | $1,208,333 |
2027-28 | $6,600,000 | $8,125,000 | $0 | $1,333,333 | $1,333,333 | $5,266,667 | $2,858,333 |
2028-29 | $6,600,000 | $8,125,000 | $0 | $1,333,333 | $1,333,333 | $5,266,667 | $2,858,333 |
2029-30 | $6,600,000 | $8,125,000 | $0 | $1,333,333 | $1,333,333 | $5,266,667 | $2,858,333 |
2030-31 | $6,550,000 | $8,125,000 | $0 | $1,333,333 | $1,333,333 | $5,216,667 | $2,908,333 |
2031-32 | $0 | $0 | $0 | $1,333,333 | $1,333,333 | -$1,333,333 | $1,333,333 |
2032-33 | $0 | $0 | $0 | $1,333,333 | $1,333,333 | -$1,333,333 | $1,333,333 |
2033-34 | $0 | $0 | $0 | $1,333,333 | $1,333,333 | -$1,333,333 | $1,333,333 |
2034-35 | $0 | $0 | $0 | $1,333,333 | $1,333,333 | -$1,333,333 | $1,333,333 |
2035-36 | $0 | $0 | $0 | $1,333,333 | $1,333,333 | -$1,333,333 | $1,333,333 |
2036-37 | $0 | $0 | $0 | $1,333,333 | $1,333,333 | -$1,333,333 | $1,333,333 |
2037-38 | $0 | $0 | $0 | $1,333,333 | $1,333,333 | -$1,333,333 | $1,333,333 |
TOTAL | $56,000,000 | $56,875,000 | $0 | $18,666,667 | $18,666,667 | $37,333,333 | $19,541,662 |