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A Jordan Greenway buyout spans 6 years, has a cost of $3,000,000 and savings of $6,000,000. Greenway is 25 years of age at the time of the buyout; therefore, the buyout ratio is 1/3. With $9,000,000 in salary remaining, the cost is $3,000,000, and the savings are $6,000,000. Buyouts span twice the length of the remaining years and because there are 3 years remaining in the contract, the buyout length is 6 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 | $9,000,000 | $0 | 3 | 6 | 25 | 1/3 | $3,000,000 | $6,000,000 | $500,000 |
| SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT ( MIN) |
| 2022-23 | $2,500,000 | $3,000,000 | $0 | $500,000 | $500,000 | $2,000,000 | $1,000,000 |
| 2023-24 | $3,500,000 | $3,000,000 | $0 | $500,000 | $500,000 | $3,000,000 | $0 |
| 2024-25 | $3,000,000 | $3,000,000 | $0 | $500,000 | $500,000 | $2,500,000 | $500,000 |
| 2025-26 | $0 | $0 | $0 | $500,000 | $500,000 | -$500,000 | $500,000 |
| 2026-27 | $0 | $0 | $0 | $500,000 | $500,000 | -$500,000 | $500,000 |
| 2027-28 | $0 | $0 | $0 | $500,000 | $500,000 | -$500,000 | $500,000 |
| TOTAL | $9,000,000 | $9,000,000 | $0 | $3,000,000 | $3,000,000 | $6,000,000 | $3,000,000 |
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