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A Josh Bloom buyout spans 6 years, has a cost of $775,000 and savings of $1,550,000. Bloom is 20 years of age at the time of the buyout; therefore, the buyout ratio is 1/3. With $2,325,000 in salary remaining, the cost is $775,000, and the savings are $1,550,000. 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, 2023 | $2,325,000 | $185,000 | 3 | 6 | 20 | 1/3 | $775,000 | $1,550,000 | $129,167 |
| SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT ( VAN) |
| 2023-24 | $775,000 | $836,667 | $92,500 | $129,167 | $221,667 | $645,833 | $190,834 |
| 2024-25 | $775,000 | $836,667 | $92,500 | $129,167 | $221,667 | $645,833 | $190,834 |
| 2025-26 | $775,000 | $836,667 | $0 | $129,167 | $129,167 | $645,833 | $190,834 |
| 2026-27 | $0 | $0 | $0 | $129,167 | $129,167 | -$129,167 | $129,167 |
| 2027-28 | $0 | $0 | $0 | $129,167 | $129,167 | -$129,167 | $129,167 |
| 2028-29 | $0 | $0 | $0 | $129,167 | $129,167 | -$129,167 | $129,167 |
| TOTAL | $2,325,000 | $2,510,001 | $185,000 | $775,000 | $960,000 | $1,550,000 | $960,003 |
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