A Michael Anderson buyout spans 14 years, has a cost of $9,800,000 and savings of $19,600,000. Anderson is 25 years of age at the time of the buyout; therefore, the buyout ratio is 1/3. With $29,400,000 in salary remaining, the cost is $9,800,000, and the savings are $19,600,000. Buyouts span twice the length of the remaining years and because there are 7 years remaining in the contract, the buyout length is 14 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 | $29,400,000 | $0 | 7 | 14 | 25 | 1/3 | $9,800,000 | $19,600,000 | $700,000 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT (LAK) |
2024-25 | $4,200,000 | $4,125,000 | $0 | $700,000 | $700,000 | $3,500,000 | $625,000 |
2025-26 | $4,200,000 | $4,125,000 | $0 | $700,000 | $700,000 | $3,500,000 | $625,000 |
2026-27 | $4,200,000 | $4,125,000 | $0 | $700,000 | $700,000 | $3,500,000 | $625,000 |
2027-28 | $4,200,000 | $4,125,000 | $0 | $700,000 | $700,000 | $3,500,000 | $625,000 |
2028-29 | $4,200,000 | $4,125,000 | $0 | $700,000 | $700,000 | $3,500,000 | $625,000 |
2029-30 | $4,200,000 | $4,125,000 | $0 | $700,000 | $700,000 | $3,500,000 | $625,000 |
2030-31 | $4,200,000 | $4,125,000 | $0 | $700,000 | $700,000 | $3,500,000 | $625,000 |
2031-32 | $0 | $0 | $0 | $700,000 | $700,000 | -$700,000 | $700,000 |
2032-33 | $0 | $0 | $0 | $700,000 | $700,000 | -$700,000 | $700,000 |
2033-34 | $0 | $0 | $0 | $700,000 | $700,000 | -$700,000 | $700,000 |
2034-35 | $0 | $0 | $0 | $700,000 | $700,000 | -$700,000 | $700,000 |
2035-36 | $0 | $0 | $0 | $700,000 | $700,000 | -$700,000 | $700,000 |
2036-37 | $0 | $0 | $0 | $700,000 | $700,000 | -$700,000 | $700,000 |
2037-38 | $0 | $0 | $0 | $700,000 | $700,000 | -$700,000 | $700,000 |
TOTAL | $29,400,000 | $28,875,000 | $0 | $9,800,000 | $9,800,000 | $19,600,000 | $9,275,000 |