Alex Ovechkin buyout calculator, cap hit impact

Alex Ovechkin Buyout Cap Implications

Birthdate September 17, 1985

If Alex Ovechkin was bought out prior to the 2020-2021 season.

The annual cap hit of a buyout is calculated year by year as follows:

  • Add together the Original Cap Hit and the Contract Signing Bonus for that year
  • Subtract the Contract Total Salary for that year (base salary + signing bonus).
  • Finally, add the Annual Buyout Cost as calculated below.

He would be 34 years old at the buyout giving him a 67% buyout multiplier.
Under 26 = 1/3 multiplier
26+ = 2/3 multiplier

The total buyout cost would be $6,666,667
Remaining base salary
($10,000,000 * 67% buyout multiplier)
.

1 years left in contract.
Buyout applied over 2 years
(2x years remaining on contract)

Annual buyout cost of $3,333,333
(Total buyout cost/2 years)

Alex Ovechkin projected buyout 2020-2021 season
2020-2021 2021-2022
Remaining Base Salary
$10,000,000
$10,000,000 $0
Original Cap Hit $9,538,462 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($10,000,000) ($0)
Annual Buyout Cost $3,333,333 $3,333,333
ACTUAL CAP HIT Washington Capitals logo $2,871,795 $3,333,333
Savings $6,666,667 $-3,333,333

Active Contract

Signing Team
Signing Date January 10, 2008
Signing Status RFA
Agent Stephen Screnci
Standard Contract | 13 Years $124,000,000 11.70% of cap space
2008-2009 2009-2010 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 2019-2020 2020-2021
Cap Hit $9,538,462 $9,538,462 $9,538,462 $9,538,462 $9,538,462 $9,538,462 $9,538,462 $9,538,462 $9,538,462 $9,538,462 $9,538,462 $9,538,462 $9,538,462
UFA
AAV $9,538,462 $9,538,462 $9,538,462 $9,538,462 $9,538,462 $9,538,462 $9,538,462 $9,538,462 $9,538,462 $9,538,462 $9,538,462 $9,538,462 $9,538,462
Performance Bonuses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Base Salary $9,000,000 $9,000,000 $9,000,000 $9,000,000 $9,000,000 $9,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000
Signing Bonuses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Salary $9,000,000 $9,000,000 $9,000,000 $9,000,000 $9,000,000 $9,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000
Minors Salary $9,000,000 $9,000,000 $9,000,000 $9,000,000 $9,000,000 $9,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000
Clauses M-NTC M-NTC M-NTC M-NTC M-NTC M-NTC M-NTC
UFA Year
Buy It Out