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A Casey Mittelstadt buyout spans 2 years, has a cost of $866,667 and savings of $1,733,333. Mittelstadt is 24 years of age at the time of the buyout; therefore, the buyout ratio is 1/3. With $2,600,000 in salary remaining, the cost is $866,667, and the savings are $1,733,333. 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.
| BUYOUT DATE | BASE SALARY REMAINING | S.BONUS REMAINING | YEARS REMAINING | BUYOUT LENGTH | AGE | BUYOUT RATIO | TOTAL COST | TOTAL SAVINGS | ANNUAL COST |
|---|---|---|---|---|---|---|---|---|---|
| Jun. 15, 2023 | $2,600,000 | $0 | 1 | 2 | 24 | 1/3 | $866,667 | $1,733,333 | $433,334 |
| SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT ( BUF) |
| 2023-24 | $2,600,000 | $2,500,000 | $0 | $433,334 | $433,334 | $2,166,666 | $333,334 |
| 2024-25 | $0 | $0 | $0 | $433,334 | $433,334 | -$433,334 | $433,334 |
| TOTAL | $2,600,000 | $2,500,000 | $0 | $866,667 | $866,667 | $1,733,333 | $766,668 |
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