A Jack Peart buyout spans 6 years, has a cost of $832,500 and savings of $1,665,000. Peart is 21 years of age at the time of the buyout; therefore, the buyout ratio is 1/3. With $2,497,500 in salary remaining, the cost is $832,500, and the savings are $1,665,000. 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.
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 | $2,497,500 | $277,500 | 3 | 6 | 21 | 1/3 | $832,500 | $1,665,000 | $138,750 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT (MIN) |
2024-25 | $832,500 | $925,000 | $92,500 | $138,750 | $231,250 | $693,750 | $231,250 |
2025-26 | $832,500 | $925,000 | $92,500 | $138,750 | $231,250 | $693,750 | $231,250 |
2026-27 | $832,500 | $925,000 | $92,500 | $138,750 | $231,250 | $693,750 | $231,250 |
2027-28 | $0 | $0 | $0 | $138,750 | $138,750 | -$138,750 | $138,750 |
2028-29 | $0 | $0 | $0 | $138,750 | $138,750 | -$138,750 | $138,750 |
2029-30 | $0 | $0 | $0 | $138,750 | $138,750 | -$138,750 | $138,750 |
TOTAL | $2,497,500 | $2,775,000 | $277,500 | $832,500 | $1,110,000 | $1,665,000 | $1,110,000 |