A Easton Cowan buyout spans 4 years, has a cost of $565,667 and savings of $1,131,333. Cowan is 19 years of age at the time of the buyout; therefore, the buyout ratio is 1/3. With $1,697,000 in salary remaining, the cost is $565,667, and the savings are $1,131,333. Buyouts span twice the length of the remaining years and because there are 2 years remaining in the contract, the buyout length is 4 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 | $1,697,000 | $188,500 | 2 | 4 | 19 | 1/3 | $565,667 | $1,131,333 | $141,417 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT (TOR) |
2024-25 | $842,000 | $935,833 | $93,500 | $141,417 | $234,917 | $700,583 | $235,250 |
2025-26 | $855,000 | $935,833 | $95,000 | $141,417 | $236,417 | $713,583 | $222,250 |
2026-27 | $0 | $0 | $0 | $141,417 | $141,417 | -$141,417 | $141,417 |
2027-28 | $0 | $0 | $0 | $141,417 | $141,417 | -$141,417 | $141,417 |
TOTAL | $1,697,000 | $1,871,666 | $188,500 | $565,667 | $754,167 | $1,131,333 | $740,334 |