Cross Hanas buyout calculator, cap hit impact

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Cross Hanas Buyout Cap Implications

Birthdate January 5, 2002

If Cross Hanas was bought out prior to the 2024-2025 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 $258,333
Remaining base salary
($775,000 * 33% buyout multiplier)
.

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

Annual buyout cost of $129,167
(Total buyout cost/2 years)

Cross Hanas projected buyout 2024-2025 season
2024-2025 2025-2026
Remaining Base Salary
$775,000
$775,000 $0
Original Cap Hit $859,167 $0
Contract Signing Bonus $92,500 $0
Contract Total Salary ($867,500) ($0)
Annual Buyout Cost $129,167 $129,167
ACTUAL CAP HIT Detroit Red Wings logo $213,334 $129,167
Savings $645,833 $-129,167

Active Contract

Signing Team Detroit Red Wings logo
Signing Date March 18, 2022
Entry Level Contract | 3 Years $2,577,501 1.04% of cap space
2022-2023 2023-2024 2024-2025
Cap Hit $859,167 $859,167 $859,167
RFA
AAV $925,000 $925,000 $925,000
Performance Bonuses $82,500 $57,500 $57,500
Base Salary $750,000 $775,000 $775,000
Signing Bonuses $92,500 $92,500 $92,500
Total Salary $842,500 $867,500 $867,500
Minors Salary $80,000 $80,000 $80,000
Clauses
UFA Year
Buy It Out Buy It Out Buy It Out