A Steven Santini buyout spans 2 years, has a cost of $500,000 and savings of $250,000. Santini is 27 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $750,000 in salary remaining, the cost is $500,000, and the savings are $250,000. 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.
|BUYOUT DATE||BASE SALARY REMAINING||S.BONUS REMAINING||YEARS REMAINING||BUYOUT LENGTH||AGE||BUYOUT RATIO||TOTAL COST||TOTAL SAVINGS||ANNUAL COST|
|Jun. 15, 2022||$750,000||$0||1||2||27||2/3||$500,000||$250,000||$250,000|