A Nate Schmidt buyout spans 2 years, has a cost of $3,233,333 and savings of $1,616,667. Schmidt is 32 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $4,850,000 in salary remaining, the cost is $3,233,333, and the savings are $1,616,667. 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 | $4,850,000 | $0 | 1 | 2 | 32 | 2/3 | $3,233,333 | $1,616,667 | $1,616,667 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT (WPG) |
2024-25 | $4,850,000 | $5,950,000 | $0 | $1,616,667 | $1,616,667 | $3,233,333 | $2,716,667 |
2025-26 | $0 | $0 | $0 | $1,616,667 | $1,616,667 | -$1,616,667 | $1,616,667 |
TOTAL | $4,850,000 | $5,950,000 | $0 | $3,233,333 | $3,233,333 | $1,616,667 | $4,333,334 |