Brian Strait buyout calculator, cap hit impact

Brian Strait Buyout Cap Implications

Birthdate January 4, 1988

If Brian Strait was bought out prior to the 2019-2020 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 31 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 $466,667
Remaining base salary
($700,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $233,333
(Total buyout cost/2 years)

Brian Strait projected buyout 2019-2020 season
2019-2020 2020-2021
Remaining Base Salary
$700,000
$700,000 $0
Original Cap Hit $675,000 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($700,000) ($0)
Annual Buyout Cost $233,333 $233,333
ACTUAL CAP HIT New Jersey Devils logo $208,333 $233,333
Savings $466,667 $-233,333

Active Contract

Signing Team
Signing Date May 8, 2018
Signing Status UFA
Agent Jerome Buckley
Standard Contract | 2 Years $1,350,000 0.83% of cap space
2018-2019 2019-2020
Cap Hit $675,000 $675,000
UFA
AAV $675,000 $675,000
Performance Bonuses $0 $0
Base Salary $650,000 $700,000
Signing Bonuses $0 $0
Total Salary $650,000 $700,000
Minors Salary $235,000 $220,000
Clauses
UFA Year
Buy It Out