A Ilya Sorokin buyout spans 16 years, has a cost of $44,000,000 and savings of $22,000,000. Sorokin is 28 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $66,000,000 in salary remaining, the cost is $44,000,000, and the savings are $22,000,000. Buyouts span twice the length of the remaining years and because there are 8 years remaining in the contract, the buyout length is 16 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 |
---|
Jun. 15, 2024 | $66,000,000 | $0 | 8 | 16 | 28 | 2/3 | $44,000,000 | $22,000,000 | $2,750,000 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT (NYI) |
2024-25 | $8,250,000 | $8,250,000 | $0 | $2,750,000 | $2,750,000 | $5,500,000 | $2,750,000 |
2025-26 | $8,250,000 | $8,250,000 | $0 | $2,750,000 | $2,750,000 | $5,500,000 | $2,750,000 |
2026-27 | $8,250,000 | $8,250,000 | $0 | $2,750,000 | $2,750,000 | $5,500,000 | $2,750,000 |
2027-28 | $8,250,000 | $8,250,000 | $0 | $2,750,000 | $2,750,000 | $5,500,000 | $2,750,000 |
2028-29 | $8,250,000 | $8,250,000 | $0 | $2,750,000 | $2,750,000 | $5,500,000 | $2,750,000 |
2029-30 | $8,250,000 | $8,250,000 | $0 | $2,750,000 | $2,750,000 | $5,500,000 | $2,750,000 |
2030-31 | $8,250,000 | $8,250,000 | $0 | $2,750,000 | $2,750,000 | $5,500,000 | $2,750,000 |
2031-32 | $8,250,000 | $8,250,000 | $0 | $2,750,000 | $2,750,000 | $5,500,000 | $2,750,000 |
2032-33 | $0 | $0 | $0 | $2,750,000 | $2,750,000 | -$2,750,000 | $2,750,000 |
2033-34 | $0 | $0 | $0 | $2,750,000 | $2,750,000 | -$2,750,000 | $2,750,000 |
2034-35 | $0 | $0 | $0 | $2,750,000 | $2,750,000 | -$2,750,000 | $2,750,000 |
2035-36 | $0 | $0 | $0 | $2,750,000 | $2,750,000 | -$2,750,000 | $2,750,000 |
2036-37 | $0 | $0 | $0 | $2,750,000 | $2,750,000 | -$2,750,000 | $2,750,000 |
2037-38 | $0 | $0 | $0 | $2,750,000 | $2,750,000 | -$2,750,000 | $2,750,000 |
2038-39 | $0 | $0 | $0 | $2,750,000 | $2,750,000 | -$2,750,000 | $2,750,000 |
2039-40 | $0 | $0 | $0 | $2,750,000 | $2,750,000 | -$2,750,000 | $2,750,000 |
TOTAL | $66,000,000 | $66,000,000 | $0 | $44,000,000 | $44,000,000 | $22,000,000 | $44,000,000 |