A Anders Lee buyout spans 6 years, has a cost of $12,866,667 and savings of $6,433,333. Lee is 32 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $19,300,000 in salary remaining, the cost is $12,866,667, and the savings are $6,433,333. 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, 2023 | $19,300,000 | $0 | 3 | 6 | 32 | 2/3 | $12,866,667 | $6,433,333 | $2,144,445 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT ( NYI) |
2023-24 | $8,950,000 | $7,000,000 | $0 | $2,144,445 | $2,144,445 | $6,805,555 | $194,445 |
2024-25 | $5,850,000 | $7,000,000 | $0 | $2,144,445 | $2,144,445 | $3,705,555 | $3,294,445 |
2025-26 | $4,500,000 | $7,000,000 | $0 | $2,144,445 | $2,144,445 | $2,355,555 | $4,644,445 |
2026-27 | $0 | $0 | $0 | $2,144,445 | $2,144,445 | -$2,144,445 | $2,144,445 |
2027-28 | $0 | $0 | $0 | $2,144,445 | $2,144,445 | -$2,144,445 | $2,144,445 |
2028-29 | $0 | $0 | $0 | $2,144,445 | $2,144,445 | -$2,144,445 | $2,144,445 |
TOTAL | $19,300,000 | $21,000,000 | $0 | $12,866,667 | $12,866,667 | $6,433,333 | $14,566,670 |