Alex Steeves buyout calculator, cap hit impact

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Alex Steeves Buyout Cap Implications

Birthdate December 10, 1999

If Alex Steeves was bought out prior to the 2022-2023 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 22 years old at the buyout giving him a 33% buyout multiplier.
Under 26 = 1/3 multiplier
26+ = 2/3 multiplier

The total buyout cost would be $508,333
Remaining base salary
($1,525,000 * 33% buyout multiplier)
.

2 years left in contract.
Buyout applied over 4 years
(2x years remaining on contract)

Annual buyout cost of $127,083
(Total buyout cost/4 years)

Alex Steeves projected buyout 2022-2023 season
2022-2023 2023-2024 2024-2025 2025-2026
Remaining Base Salary
$1,525,000
$750,000 $775,000 $0 $0
Original Cap Hit $834,167 $834,167 $0 $0
Contract Signing Bonus $75,000 $77,500 $0 $0
Contract Total Salary ($825,000) ($852,500) ($0) ($0)
Annual Buyout Cost $127,083 $127,083 $127,083 $127,083
ACTUAL CAP HIT Toronto Maple Leafs logo $211,250 $186,250 $127,083 $127,083
Savings $622,917 $647,917 $-127,083 $-127,083

Active Contract

Signing Team Toronto Maple Leafs logo
Signing Date March 28, 2021
Agent Allain Roy
Entry Level Contract | 3 Years $2,502,501 1.01% of cap space
2021-2022 2022-2023 2023-2024
Cap Hit $834,167 $834,167 $834,167
RFA
AAV $834,167 $834,167 $834,167
Performance Bonuses $0 $0 $0
Base Salary $750,000 $750,000 $775,000
Signing Bonuses $75,000 $75,000 $77,500
Total Salary $825,000 $825,000 $852,500
Minors Salary $80,000 $80,000 $80,000
Clauses
UFA Year
Buy It Out Buy It Out