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A Roberto Luongo buyout spans 6 years, has a cost of $2,412,000 and savings of $1,206,000. Luongo is 40 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $3,618,000 in salary remaining, the cost is $2,412,000, and the savings are $1,206,000. 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, 2019 | $3,618,000 | $0 | 3 | 6 | 40 | 2/3 | $2,412,000 | $1,206,000 | $402,000 |
| SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT | CAP HIT ( VAN) |
| 2019-20 | $1,618,000 | $5,333,333 | $0 | $402,000 | $402,000 | $1,216,000 | $3,499,733 | $617,600 |
| 2020-21 | $1,000,000 | $5,333,333 | $0 | $402,000 | $402,000 | $598,000 | $4,025,033 | $710,300 |
| 2021-22 | $1,000,000 | $5,333,333 | $0 | $402,000 | $402,000 | $598,000 | $4,025,033 | $710,300 |
| 2022-23 | $0 | $0 | $0 | $402,000 | $402,000 | -$402,000 | $341,700 | $60,300 |
| 2023-24 | $0 | $0 | $0 | $402,000 | $402,000 | -$402,000 | $341,700 | $60,300 |
| 2024-25 | $0 | $0 | $0 | $402,000 | $402,000 | -$402,000 | $341,700 | $60,300 |
| TOTAL | $3,618,000 | $15,999,999 | $0 | $2,412,000 | $2,412,000 | $1,206,000 | $12,574,899 (85%) | $2,219,100 (15%) |
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