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A Jack Thompson buyout spans 4 years, has a cost of $516,667 and savings of $1,033,333. Thompson is 21 years of age at the time of the buyout; therefore, the buyout ratio is 1/3. With $1,550,000 in salary remaining, the cost is $516,667, and the savings are $1,033,333. 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.
| BUYOUT DATE | BASE SALARY REMAINING | S.BONUS REMAINING | YEARS REMAINING | BUYOUT LENGTH | AGE | BUYOUT RATIO | TOTAL COST | TOTAL SAVINGS | ANNUAL COST |
|---|---|---|---|---|---|---|---|---|---|
| Jun. 15, 2023 | $1,550,000 | $92,500 | 2 | 4 | 21 | 1/3 | $516,667 | $1,033,333 | $129,167 |
| SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT ( TBL) |
| 2023-24 | $775,000 | $828,333 | $92,500 | $129,167 | $221,667 | $645,833 | $182,500 |
| 2024-25 | $775,000 | $828,333 | $0 | $129,167 | $129,167 | $645,833 | $182,500 |
| 2025-26 | $0 | $0 | $0 | $129,167 | $129,167 | -$129,167 | $129,167 |
| 2026-27 | $0 | $0 | $0 | $129,167 | $129,167 | -$129,167 | $129,167 |
| TOTAL | $1,550,000 | $1,656,666 | $92,500 | $516,667 | $609,167 | $1,033,333 | $623,334 |
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