Ridly Greig Buyout Results

A Ridly Greig buyout spans 4 years, has a cost of $555,000 and savings of $1,110,000. Greig is 20 years of age at the time of the buyout; therefore, the buyout ratio is 1/3. With $1,665,000 in salary remaining, the cost is $555,000, and the savings are $1,110,000. Buyouts span twice the length of the remaining years and because there are 2 years remaining in the contract, the buyout length is 4 years. The buyout cap hit is displayed in the Cap Hit Calculations table below.

Buyout Date
Cost Calculations
BUYOUT DATEBASE SALARY REMAININGS.BONUS REMAININGYEARS REMAININGBUYOUT LENGTHAGEBUYOUT RATIOTOTAL COSTTOTAL SAVINGSANNUAL COST
Jun. 15, 2023$1,665,000$024201/3$555,000$1,110,000$138,750
Cap Hit Calculations
SEASONINITIAL BASE SALARYINITIAL CAP HITSIGNING BONUSBUYOUT COSTPOST-BUYOUT EARNINGSSAVINGSCAP HIT (Logo of the Ottawa SenatorsOTT)
2023-24$832,500$863,333$0$138,750$138,750$693,750$169,583
2024-25$832,500$863,333$0$138,750$138,750$693,750$169,583
2025-26$0$0$0$138,750$138,750-$138,750$138,750
2026-27$0$0$0$138,750$138,750-$138,750$138,750
TOTAL$1,665,000$1,726,666$0$555,000$555,000$1,110,000$616,666