A Barclay Goodrow buyout spans 6 years, has a cost of $6,666,667 and savings of $3,333,333. Goodrow is 31 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $10,000,000 in salary remaining, the cost is $6,666,667, and the savings are $3,333,333. 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, 2024 | $10,000,000 | $1,250,000 | 3 | 6 | 31 | 2/3 | $6,666,667 | $3,333,333 | $1,111,111 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT ( NYR) |
2024-25 | $5,000,000 | $3,641,667 | $0 | $1,111,111 | $1,111,111 | $3,888,889 | -$247,222 |
2025-26 | $3,750,000 | $3,641,667 | $0 | $1,111,111 | $1,111,111 | $2,638,889 | $1,002,778 |
2026-27 | $1,250,000 | $3,641,667 | $1,250,000 | $1,111,111 | $2,361,111 | $138,889 | $3,502,778 |
2027-28 | $0 | $0 | $0 | $1,111,111 | $1,111,111 | -$1,111,111 | $1,111,111 |
2028-29 | $0 | $0 | $0 | $1,111,111 | $1,111,111 | -$1,111,111 | $1,111,111 |
2029-30 | $0 | $0 | $0 | $1,111,111 | $1,111,111 | -$1,111,111 | $1,111,111 |
TOTAL | $10,000,000 | $10,925,001 | $1,250,000 | $6,666,667 | $7,916,667 | $3,333,333 | $7,591,667 |