A Noah Hanifin buyout spans 16 years, has a cost of $19,600,000 and savings of $9,800,000. Hanifin is 27 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $29,400,000 in salary remaining, the cost is $19,600,000, and the savings are $9,800,000. Buyouts span twice the length of the remaining years and because there are 8 years remaining in the contract, the buyout length is 16 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 | $29,400,000 | 8 | 16 | 27 | 2/3 | $19,600,000 | $9,800,000 | $1,225,000 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT (VGK) |
2024-25 | $1,000,000 | $7,350,000 | $8,500,000 | $1,225,000 | $9,725,000 | -$225,000 | $7,575,000 |
2025-26 | $1,600,000 | $7,350,000 | $7,900,000 | $1,225,000 | $9,125,000 | $375,000 | $6,975,000 |
2026-27 | $2,000,000 | $7,350,000 | $7,500,000 | $1,225,000 | $8,725,000 | $775,000 | $6,575,000 |
2027-28 | $2,000,000 | $7,350,000 | $5,500,000 | $1,225,000 | $6,725,000 | $775,000 | $6,575,000 |
2028-29 | $5,700,000 | $7,350,000 | $0 | $1,225,000 | $1,225,000 | $4,475,000 | $2,875,000 |
2029-30 | $5,700,000 | $7,350,000 | $0 | $1,225,000 | $1,225,000 | $4,475,000 | $2,875,000 |
2030-31 | $5,700,000 | $7,350,000 | $0 | $1,225,000 | $1,225,000 | $4,475,000 | $2,875,000 |
2031-32 | $5,700,000 | $7,350,000 | $0 | $1,225,000 | $1,225,000 | $4,475,000 | $2,875,000 |
2032-33 | $0 | $0 | $0 | $1,225,000 | $1,225,000 | -$1,225,000 | $1,225,000 |
2033-34 | $0 | $0 | $0 | $1,225,000 | $1,225,000 | -$1,225,000 | $1,225,000 |
2034-35 | $0 | $0 | $0 | $1,225,000 | $1,225,000 | -$1,225,000 | $1,225,000 |
2035-36 | $0 | $0 | $0 | $1,225,000 | $1,225,000 | -$1,225,000 | $1,225,000 |
2036-37 | $0 | $0 | $0 | $1,225,000 | $1,225,000 | -$1,225,000 | $1,225,000 |
2037-38 | $0 | $0 | $0 | $1,225,000 | $1,225,000 | -$1,225,000 | $1,225,000 |
2038-39 | $0 | $0 | $0 | $1,225,000 | $1,225,000 | -$1,225,000 | $1,225,000 |
2039-40 | $0 | $0 | $0 | $1,225,000 | $1,225,000 | -$1,225,000 | $1,225,000 |
TOTAL | $29,400,000 | $58,800,000 | $29,400,000 | $19,600,000 | $49,000,000 | $9,800,000 | $49,000,000 |