A Thomas Chabot buyout spans 8 years, has a cost of $25,333,333 and savings of $12,666,667. Chabot is 27 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $38,000,000 in salary remaining, the cost is $25,333,333, and the savings are $12,666,667. Buyouts span twice the length of the remaining years and because there are 4 years remaining in the contract, the buyout length is 8 years. The buyout cap hit is displayed in the Cap Hit Calculations table below.
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, 2024 | $38,000,000 | $0 | 4 | 8 | 27 | 2/3 | $25,333,333 | $12,666,667 | $3,166,667 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT (OTT) |
2024-25 | $10,000,000 | $8,000,000 | $0 | $3,166,667 | $3,166,667 | $6,833,333 | $1,166,667 |
2025-26 | $10,000,000 | $8,000,000 | $0 | $3,166,667 | $3,166,667 | $6,833,333 | $1,166,667 |
2026-27 | $10,000,000 | $8,000,000 | $0 | $3,166,667 | $3,166,667 | $6,833,333 | $1,166,667 |
2027-28 | $8,000,000 | $8,000,000 | $0 | $3,166,667 | $3,166,667 | $4,833,333 | $3,166,667 |
2028-29 | $0 | $0 | $0 | $3,166,667 | $3,166,667 | -$3,166,667 | $3,166,667 |
2029-30 | $0 | $0 | $0 | $3,166,667 | $3,166,667 | -$3,166,667 | $3,166,667 |
2030-31 | $0 | $0 | $0 | $3,166,667 | $3,166,667 | -$3,166,667 | $3,166,667 |
2031-32 | $0 | $0 | $0 | $3,166,667 | $3,166,667 | -$3,166,667 | $3,166,667 |
TOTAL | $38,000,000 | $32,000,000 | $0 | $25,333,333 | $25,333,333 | $12,666,667 | $19,333,336 |