A Logan O'Connor buyout spans 2 years, has a cost of $833,333 and savings of $416,667. O'Connor is 27 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $1,250,000 in salary remaining, the cost is $833,333, and the savings are $416,667. 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.
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, 2024 | $1,250,000 | $0 | 1 | 2 | 27 | 2/3 | $833,333 | $416,667 | $416,667 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT (COL) |
2024-25 | $1,250,000 | $1,050,000 | $0 | $416,667 | $416,667 | $833,333 | $216,667 |
2025-26 | $0 | $0 | $0 | $416,667 | $416,667 | -$416,667 | $416,667 |
TOTAL | $1,250,000 | $1,050,000 | $0 | $833,333 | $833,333 | $416,667 | $633,334 |