A Easton Cowan buyout spans 6 years, has a cost of $842,333 and savings of $1,684,667. Cowan is 19 years of age at the time of the buyout; therefore, the buyout ratio is 1/3. With $2,527,000 in salary remaining, the cost is $842,333, and the savings are $1,684,667. 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 | $2,527,000 | $188,500 | 3 | 6 | 19 | 1/3 | $842,333 | $1,684,667 | $140,389 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT (TOR) |
2024-25 | $830,000 | $904,667 | $93,500 | $140,389 | $233,889 | $689,611 | $215,056 |
2025-26 | $842,000 | $904,667 | $95,000 | $140,389 | $235,389 | $701,611 | $203,056 |
2026-27 | $855,000 | $904,667 | $0 | $140,389 | $140,389 | $714,611 | $190,056 |
2027-28 | $0 | $0 | $0 | $140,389 | $140,389 | -$140,389 | $140,389 |
2028-29 | $0 | $0 | $0 | $140,389 | $140,389 | -$140,389 | $140,389 |
2029-30 | $0 | $0 | $0 | $140,389 | $140,389 | -$140,389 | $140,389 |
TOTAL | $2,527,000 | $2,714,001 | $188,500 | $842,333 | $1,030,833 | $1,684,667 | $1,029,335 |