Martin Jones Buyout Results

A Martin Jones buyout spans 2 years, has a cost of $3,000,000 and savings of $1,500,000. Jones is 33 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $4,500,000 in salary remaining, the cost is $3,000,000, and the savings are $1,500,000. 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.

This player does not currently have an active contract; however, the buyout details of their previously bought-out contract would be as follows
Buyout Date
Cost Calculations
BUYOUT DATEBASE SALARY REMAININGS.BONUS REMAININGYEARS REMAININGBUYOUT LENGTHAGEBUYOUT RATIOTOTAL COSTTOTAL SAVINGSANNUAL COST
Jun. 15, 2023$4,500,000$012332/3$3,000,000$1,500,000$1,500,000
Cap Hit Calculations
SEASONINITIAL BASE SALARYINITIAL CAP HITSIGNING BONUSBUYOUT COSTPOST-BUYOUT EARNINGSSAVINGSCAP HIT (Logo of the Seattle KrakenSEA)
2023-24$4,500,000$5,750,000$0$1,500,000$1,500,000$3,000,000$2,750,000
2024-25$0$0$0$1,500,000$1,500,000-$1,500,000$1,500,000
TOTAL$4,500,000$5,750,000$0$3,000,000$3,000,000$1,500,000$4,250,000