A James Neal buyout spans 8 years, has a cost of $15,333,333 and savings of $7,666,667. Neal is 31 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $23,000,000 in salary remaining, the cost is $15,333,333, and the savings are $7,666,667. Buyouts span twice the length of the remaining years and because there are 4 years remaining in the contract, the buyout length is 8 years. The buyout cap hit is displayed in the Cap Hit Calculations table below.
This player does not currently have an active contract; however, the buyout details of their previously bought-out contract would be as follows
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, 2019 | $23,000,000 | $0 | 4 | 8 | 31 | 2/3 | $15,333,333 | $7,666,667 | $1,916,667 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT |
2019-20 | $5,750,000 | $5,750,000 | $0 | $1,916,667 | $1,916,667 | $3,833,333 | $1,916,667 |
2020-21 | $5,750,000 | $5,750,000 | $0 | $1,916,667 | $1,916,667 | $3,833,333 | $1,916,667 |
2021-22 | $5,750,000 | $5,750,000 | $0 | $1,916,667 | $1,916,667 | $3,833,333 | $1,916,667 |
2022-23 | $5,750,000 | $5,750,000 | $0 | $1,916,667 | $1,916,667 | $3,833,333 | $1,916,667 |
2023-24 | $0 | $0 | $0 | $1,916,667 | $1,916,667 | -$1,916,667 | $1,916,667 |
2024-25 | $0 | $0 | $0 | $1,916,667 | $1,916,667 | -$1,916,667 | $1,916,667 |
2025-26 | $0 | $0 | $0 | $1,916,667 | $1,916,667 | -$1,916,667 | $1,916,667 |
2026-27 | $0 | $0 | $0 | $1,916,667 | $1,916,667 | -$1,916,667 | $1,916,667 |
TOTAL | $23,000,000 | $23,000,000 | $0 | $15,333,333 | $15,333,333 | $7,666,667 | $15,333,336 |