A Ryan Spooner buyout spans 2 years, has a cost of $2,666,667 and savings of $1,333,333. Spooner is 27 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $4,000,000 in salary remaining, the cost is $2,666,667, and the savings are $1,333,333. Buyouts span twice the length of the remaining years and because there is 1 year remaining in the contract, the buyout length is 2 years. The buyout cap hit is displayed in the Cap Hit Calculations table below.
This player does not currently have an active contract; however, the buyout details of their previously bought-out contract would be as follows
Retained Salary
This contract was involved in a retained salary transaction. The resulting costs and cap hit are therefore split between each team based on the percentage of salary retained by the respective teams.
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, 2019 | $4,000,000 | $0 | 1 | 2 | 27 | 2/3 | $2,666,667 | $1,333,333 | $1,333,334 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT | CAP HIT (NYR) |
2019-20 | $4,000,000 | $4,000,000 | $0 | $1,333,334 | $1,333,334 | $2,666,666 | $1,033,334 | $300,000 |
2020-21 | $0 | $0 | $0 | $1,333,334 | $1,333,334 | -$1,333,334 | $1,033,334 | $300,000 |
TOTAL | $4,000,000 | $4,000,000 | $0 | $2,666,667 | $2,666,667 | $1,333,333 | $2,066,668 (77.5%) | $600,000 (22.5%) |