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A Nate Schmidt buyout spans 6 years, has a cost of $9,866,667 and savings of $4,933,333. Schmidt is 30 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $14,800,000 in salary remaining, the cost is $9,866,667, and the savings are $4,933,333. Buyouts span twice the length of the remaining years and because there are 3 years remaining in the contract, the buyout length is 6 years. The buyout cap hit is displayed in the Cap Hit Calculations table below.
| BUYOUT DATE | BASE SALARY REMAINING | S.BONUS REMAINING | YEARS REMAINING | BUYOUT LENGTH | AGE | BUYOUT RATIO | TOTAL COST | TOTAL SAVINGS | ANNUAL COST |
|---|---|---|---|---|---|---|---|---|---|
| Jun. 15, 2022 | $14,800,000 | $0 | 3 | 6 | 30 | 2/3 | $9,866,667 | $4,933,333 | $1,644,445 |
| SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT ( WPG) |
| 2022-23 | $5,000,000 | $5,950,000 | $0 | $1,644,445 | $1,644,445 | $3,355,555 | $2,594,445 |
| 2023-24 | $4,950,000 | $5,950,000 | $0 | $1,644,445 | $1,644,445 | $3,305,555 | $2,644,445 |
| 2024-25 | $4,850,000 | $5,950,000 | $0 | $1,644,445 | $1,644,445 | $3,205,555 | $2,744,445 |
| 2025-26 | $0 | $0 | $0 | $1,644,445 | $1,644,445 | -$1,644,445 | $1,644,445 |
| 2026-27 | $0 | $0 | $0 | $1,644,445 | $1,644,445 | -$1,644,445 | $1,644,445 |
| 2027-28 | $0 | $0 | $0 | $1,644,445 | $1,644,445 | -$1,644,445 | $1,644,445 |
| TOTAL | $14,800,000 | $17,850,000 | $0 | $9,866,667 | $9,866,667 | $4,933,333 | $12,916,670 |
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