A Ronan Seeley buyout spans 6 years, has a cost of $766,667 and savings of $1,533,333. Seeley is 19 years of age at the time of the buyout; therefore, the buyout ratio is 1/3. With $2,300,000 in salary remaining, the cost is $766,667, and the savings are $1,533,333. 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||$2,300,000||$102,500||3||6||19||1/3||$766,667||$1,533,333||$127,778|