A Kyle Turris buyout spans 10 years, has a cost of $20,000,000 and savings of $10,000,000. Turris is 29 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $30,000,000 in salary remaining, the cost is $20,000,000, and the savings are $10,000,000. Buyouts span twice the length of the remaining years and because there are 5 years remaining in the contract, the buyout length is 10 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 | $30,000,000 | $0 | 5 | 10 | 29 | 2/3 | $20,000,000 | $10,000,000 | $2,000,000 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT |
2019-20 | $6,000,000 | $6,000,000 | $0 | $2,000,000 | $2,000,000 | $4,000,000 | $2,000,000 |
2020-21 | $6,000,000 | $6,000,000 | $0 | $2,000,000 | $2,000,000 | $4,000,000 | $2,000,000 |
2021-22 | $6,000,000 | $6,000,000 | $0 | $2,000,000 | $2,000,000 | $4,000,000 | $2,000,000 |
2022-23 | $6,000,000 | $6,000,000 | $0 | $2,000,000 | $2,000,000 | $4,000,000 | $2,000,000 |
2023-24 | $6,000,000 | $6,000,000 | $0 | $2,000,000 | $2,000,000 | $4,000,000 | $2,000,000 |
2024-25 | $0 | $0 | $0 | $2,000,000 | $2,000,000 | -$2,000,000 | $2,000,000 |
2025-26 | $0 | $0 | $0 | $2,000,000 | $2,000,000 | -$2,000,000 | $2,000,000 |
2026-27 | $0 | $0 | $0 | $2,000,000 | $2,000,000 | -$2,000,000 | $2,000,000 |
2027-28 | $0 | $0 | $0 | $2,000,000 | $2,000,000 | -$2,000,000 | $2,000,000 |
2028-29 | $0 | $0 | $0 | $2,000,000 | $2,000,000 | -$2,000,000 | $2,000,000 |
TOTAL | $30,000,000 | $30,000,000 | $0 | $20,000,000 | $20,000,000 | $10,000,000 | $20,000,000 |