Brendan Smith buyout calculator, cap hit impact

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Brendan Smith Buyout Cap Implications

Birthdate February 8, 1989

If Brendan Smith was bought out prior to the 2023-2024 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 $800,000
Remaining base salary
($1,200,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $400,000
(Total buyout cost/2 years)

Brendan Smith projected buyout 2023-2024 season
2023-2024 2024-2025
Remaining Base Salary
$1,200,000
$1,200,000 $0
Original Cap Hit $1,100,000 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($1,200,000) ($0)
Annual Buyout Cost $400,000 $400,000
ACTUAL CAP HIT New Jersey Devils logo $300,000 $400,000
Savings $800,000 $-400,000

Active Contract

Signing Team New Jersey Devils logo
Signing Date July 13, 2022
Signing Status UFA
Agent Matthew Oates
Standard Contract | 2 Years $2,200,000 1.33% of cap space
2022-2023 2023-2024
Cap Hit $1,100,000 $1,100,000
UFA
AAV $1,100,000 $1,100,000
Performance Bonuses $0 $0
Base Salary $1,000,000 $1,200,000
Signing Bonuses $0 $0
Total Salary $1,000,000 $1,200,000
Minors Salary $1,000,000 $1,200,000
Clauses
UFA Year
Buy It Out Buy It Out