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A Jeff Skinner buyout spans 8 years, has a cost of $21,333,333 and savings of $10,666,667. Skinner is 31 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $32,000,000 in salary remaining, the cost is $21,333,333, and the savings are $10,666,667. 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.
| BUYOUT DATE | BASE SALARY REMAINING | S.BONUS REMAINING | YEARS REMAINING | BUYOUT LENGTH | AGE | BUYOUT RATIO | TOTAL COST | TOTAL SAVINGS | ANNUAL COST |
|---|---|---|---|---|---|---|---|---|---|
| Jun. 15, 2023 | $32,000,000 | $0 | 4 | 8 | 31 | 2/3 | $21,333,333 | $10,666,667 | $2,666,667 |
| SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT ( BUF) |
| 2023-24 | $10,000,000 | $9,000,000 | $0 | $2,666,667 | $2,666,667 | $7,333,333 | $1,666,667 |
| 2024-25 | $10,000,000 | $9,000,000 | $0 | $2,666,667 | $2,666,667 | $7,333,333 | $1,666,667 |
| 2025-26 | $7,000,000 | $9,000,000 | $0 | $2,666,667 | $2,666,667 | $4,333,333 | $4,666,667 |
| 2026-27 | $5,000,000 | $9,000,000 | $0 | $2,666,667 | $2,666,667 | $2,333,333 | $6,666,667 |
| 2027-28 | $0 | $0 | $0 | $2,666,667 | $2,666,667 | -$2,666,667 | $2,666,667 |
| 2028-29 | $0 | $0 | $0 | $2,666,667 | $2,666,667 | -$2,666,667 | $2,666,667 |
| 2029-30 | $0 | $0 | $0 | $2,666,667 | $2,666,667 | -$2,666,667 | $2,666,667 |
| 2030-31 | $0 | $0 | $0 | $2,666,667 | $2,666,667 | -$2,666,667 | $2,666,667 |
| TOTAL | $32,000,000 | $36,000,000 | $0 | $21,333,333 | $21,333,333 | $10,666,667 | $25,333,336 |
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