A Milan Lucic buyout spans 2 years, has a cost of $666,667 and savings of $333,333. Lucic is 34 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $1,000,000 in salary remaining, the cost is $666,667, and the savings are $333,333. 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.
Retained Salary
This contract was involved in a retained salary transaction. The resulting costs and cap hit are therefore split between each team based on the percentage of salary retained by the respective teams.
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, 2022 | $1,000,000 | $3,000,000 | 1 | 2 | 34 | 2/3 | $666,667 | $333,333 | $333,334 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT ( CGY) | CAP HIT ( EDM) |
2022-23 | $1,000,000 | $6,000,000 | $3,000,000 | $333,334 | $3,333,334 | $666,666 | $4,666,667 | $666,667 |
2023-24 | $0 | $0 | $0 | $333,334 | $333,334 | -$333,334 | $291,667 | $41,667 |
TOTAL | $1,000,000 | $6,000,000 | $3,000,000 | $666,667 | $3,666,667 | $333,333 | $4,958,334 (87.5%) | $708,334 (12.5%) |