A Jonathan Quick buyout spans 2 years, has a cost of $516,667 and savings of $258,333. Quick is 38 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $775,000 in salary remaining, the cost is $516,667, and the savings are $258,333. Buyouts span twice the length of the remaining years and because there is 1 year remaining in the contract, the buyout length is 2 years. The buyout cap hit is displayed in the Cap Hit Calculations table below.
While this is a 35+ contract, it is exempt from the 35+ buyout rules because it is either 1). One year in length, or 2). Not front-loaded and does not have a signing bonus after the first contract year (as per the 2020 MOU). Please see the
Buyout FAQ for more information
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 | $775,000 | $500,000 | 1 | 2 | 38 | 2/3 | $516,667 | $258,333 | $258,334 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT (NYR) |
2024-25 | $775,000 | $1,275,000 | $500,000 | $258,334 | $758,334 | $516,666 | $758,334 |
2025-26 | $0 | $0 | $0 | $258,334 | $258,334 | -$258,334 | $258,334 |
TOTAL | $775,000 | $1,275,000 | $500,000 | $516,667 | $1,016,667 | $258,333 | $1,016,668 |