Brent Burns Buyout Results

A Brent Burns buyout spans 6 years, has a cost of $6,000,000 and savings of $3,000,000. Burns is 37 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $9,000,000 in salary remaining, the cost is $6,000,000, and the savings are $3,000,000. 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.

Retained Salary
This contract was involved in a retained salary transaction. The resulting costs and cap hit are therefore split between each team based on the percentage of salary retained by the respective teams.
  • San Jose Sharks: 34%
Buyout Date
Cost Calculations
BUYOUT DATEBASE SALARY REMAININGS.BONUS REMAININGYEARS REMAININGBUYOUT LENGTHAGEBUYOUT RATIOTOTAL COSTTOTAL SAVINGSANNUAL COST
Jun. 15, 2022$9,000,000$7,500,00036372/3$6,000,000$3,000,000$1,000,000
Cap Hit Calculations
SEASONINITIAL BASE SALARYINITIAL CAP HITSIGNING BONUSBUYOUT COSTPOST-BUYOUT EARNINGSSAVINGSCAP HIT (Logo of the Carolina HurricanesCAR)CAP HIT (Logo of the San Jose SharksSJS)
2022-23$3,000,000$8,000,000$3,500,000$1,000,000$4,500,000$2,000,000$3,960,000$2,040,000
2023-24$3,000,000$8,000,000$2,000,000$1,000,000$3,000,000$2,000,000$3,960,000$2,040,000
2024-25$3,000,000$8,000,000$2,000,000$1,000,000$3,000,000$2,000,000$3,960,000$2,040,000
2025-26$0$0$0$1,000,000$1,000,000-$1,000,000$660,000$340,000
2026-27$0$0$0$1,000,000$1,000,000-$1,000,000$660,000$340,000
2027-28$0$0$0$1,000,000$1,000,000-$1,000,000$660,000$340,000
TOTAL$9,000,000$24,000,000$7,500,000$6,000,000$13,500,000$3,000,000$13,860,000 (66%)$7,140,000 (34%)
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