A Owen Power buyout spans 14 years, has a cost of $18,816,667 and savings of $37,633,333. Power is 21 years of age at the time of the buyout; therefore, the buyout ratio is 1/3. With $56,450,000 in salary remaining, the cost is $18,816,667, and the savings are $37,633,333. 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 |
---|
Jun. 15, 2024 | $56,450,000 | $2,000,000 | 7 | 14 | 21 | 1/3 | $18,816,667 | $37,633,333 | $1,344,048 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT (BUF) |
2024-25 | $6,350,000 | $8,350,000 | $2,000,000 | $1,344,048 | $3,344,048 | $5,005,952 | $3,344,048 |
2025-26 | $8,350,000 | $8,350,000 | $0 | $1,344,048 | $1,344,048 | $7,005,952 | $1,344,048 |
2026-27 | $8,350,000 | $8,350,000 | $0 | $1,344,048 | $1,344,048 | $7,005,952 | $1,344,048 |
2027-28 | $8,350,000 | $8,350,000 | $0 | $1,344,048 | $1,344,048 | $7,005,952 | $1,344,048 |
2028-29 | $8,350,000 | $8,350,000 | $0 | $1,344,048 | $1,344,048 | $7,005,952 | $1,344,048 |
2029-30 | $8,350,000 | $8,350,000 | $0 | $1,344,048 | $1,344,048 | $7,005,952 | $1,344,048 |
2030-31 | $8,350,000 | $8,350,000 | $0 | $1,344,048 | $1,344,048 | $7,005,952 | $1,344,048 |
2031-32 | $0 | $0 | $0 | $1,344,048 | $1,344,048 | -$1,344,048 | $1,344,048 |
2032-33 | $0 | $0 | $0 | $1,344,048 | $1,344,048 | -$1,344,048 | $1,344,048 |
2033-34 | $0 | $0 | $0 | $1,344,048 | $1,344,048 | -$1,344,048 | $1,344,048 |
2034-35 | $0 | $0 | $0 | $1,344,048 | $1,344,048 | -$1,344,048 | $1,344,048 |
2035-36 | $0 | $0 | $0 | $1,344,048 | $1,344,048 | -$1,344,048 | $1,344,048 |
2036-37 | $0 | $0 | $0 | $1,344,048 | $1,344,048 | -$1,344,048 | $1,344,048 |
2037-38 | $0 | $0 | $0 | $1,344,048 | $1,344,048 | -$1,344,048 | $1,344,048 |
TOTAL | $56,450,000 | $58,450,000 | $2,000,000 | $18,816,667 | $20,816,667 | $37,633,333 | $20,816,672 |