Calvin Pickard buyout calculator, cap hit impact

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Calvin Pickard Buyout Cap Implications

Birthdate April 15, 1992

If Calvin Pickard 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 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 $516,667
Remaining base salary
($775,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $258,333
(Total buyout cost/2 years)

Calvin Pickard projected buyout 2023-2024 season
2023-2024 2024-2025
Remaining Base Salary
$775,000
$775,000 $0
Original Cap Hit $762,500 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($775,000) ($0)
Annual Buyout Cost $258,333 $258,333
ACTUAL CAP HIT Edmonton Oilers logo $245,833 $258,333
Savings $516,667 $-258,333

Active Contract

Signing Team Edmonton Oilers logo
Signing Date July 13, 2022
Signing Status UFA
Agent Ritchie Winter
Standard Contract | 2 Years $1,525,000 0.92% of cap space
2022-2023 2023-2024
Cap Hit $762,500 $762,500
UFA
AAV $762,500 $762,500
Performance Bonuses $0 $0
Base Salary $750,000 $775,000
Signing Bonuses $0 $0
Total Salary $750,000 $775,000
Minors Salary $300,000 $300,000
Clauses
UFA Year
Buy It Out Buy It Out
400K Guaranteed both years