Cap Hit Calculations
SEASON INITIAL BASE SALARY INITIAL CAP HIT SIGNING BONUS BUYOUT COST POST-BUYOUT EARNINGS SAVINGS CAP HIT (Logo of the Columbus Blue JacketsCBJ)
2023-24 $6,000,000 $5,400,000 $0 $1,812,500 $1,812,500 $4,187,500 $1,212,500
2024-25 $6,000,000 $5,400,000 $0 $1,812,500 $1,812,500 $4,187,500 $1,212,500
2025-26 $5,525,000 $5,400,000 $0 $1,812,500 $1,812,500 $3,712,500 $1,687,500
2026-27 $4,225,000 $5,400,000 $0 $1,812,500 $1,812,500 $2,412,500 $2,987,500
2027-28 $0 $0 $0 $1,812,500 $1,812,500 -$1,812,500 $1,812,500
2028-29 $0 $0 $0 $1,812,500 $1,812,500 -$1,812,500 $1,812,500
2029-30 $0 $0 $0 $1,812,500 $1,812,500 -$1,812,500 $1,812,500
2030-31 $0 $0 $0 $1,812,500 $1,812,500 -$1,812,500 $1,812,500
TOTAL $21,750,000 $21,600,000 $0 $14,500,000 $14,500,000 $7,250,000 $14,350,000

Essentially breaks down as cap hits of:
2023-24: $1,212,500
2024-25: $1,212,500
2025-26: $1,687,500
2026-27: $2,987,500
2027-2031: $1,812,500/year

This instead of $5,400,000/year for 2023-2027.

Personally, I think Columbus should hold onto him for 1 more year to gauge a couple different things. Obviously, he would have another year to improve with a hopefully developing/healthy defense in front of him, but more importantly I think it will show Columbus where they truly are in their rebuild. If the team doesn't show signs of large improvement next year than I think they would be better off holding onto Elvis until they show signs of improvement instead of possibly handcuffing themselves down the line. But if the team takes the next step forward and Elvis doesn't, a buyout seems reasonable.

One more year, one more chance. If he starts the year shaky, expose him to waivers and send him to Cleveland. Maybe someone will take him off our hands. If not, he gets a chance to regain his game there and come back. It’s an expensive route, but beats a buyout for now.