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A James Hamblin buyout spans 4 years, has a cost of $508,333 and savings of $1,016,667. Hamblin is 23 years of age at the time of the buyout; therefore, the buyout ratio is 1/3. With $1,525,000 in salary remaining, the cost is $508,333, and the savings are $1,016,667. 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, 2022 | $1,525,000 | $90,000 | 2 | 4 | 23 | 1/3 | $508,333 | $1,016,667 | $127,083 |
| SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT ( EDM) |
| 2022-23 | $750,000 | $807,500 | $45,000 | $127,083 | $172,083 | $622,917 | $184,583 |
| 2023-24 | $775,000 | $807,500 | $45,000 | $127,083 | $172,083 | $647,917 | $159,583 |
| 2024-25 | $0 | $0 | $0 | $127,083 | $127,083 | -$127,083 | $127,083 |
| 2025-26 | $0 | $0 | $0 | $127,083 | $127,083 | -$127,083 | $127,083 |
| TOTAL | $1,525,000 | $1,615,000 | $90,000 | $508,333 | $598,333 | $1,016,667 | $598,332 |
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