David Savard buyout calculator, cap hit impact

David Savard Buyout Cap Implications

Birthdate October 22, 1990

If David Savard was bought out prior to the 2020-2021 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 29 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 $5,333,333
Remaining base salary
($8,000,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $1,333,333
(Total buyout cost/4 years)

This contract has retained salary from a previous trade. The buyout costs, and savings are split between the teams as shown below
David Savard projected buyout 2020-2021 season
2020-2021 2021-2022 2022-2023 2023-2024 2020-2021 2021-2022 2022-2023 2023-2024
Remaining Base Salary
$8,000,000
$4,000,000 $0 $0 $0 $4,000,000 $0 $0 $0
Original Cap Hit $4,250,000 $0 $0 $0 $4,250,000 $0 $0 $0
Contract Signing Bonus $0 $0 $0 $0 $0 $0 $0 $0
Contract Total Salary ($4,000,000) ($0) ($0) ($0) ($4,000,000) ($0) ($0) ($0)
Annual Buyout Cost $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333
ACTUAL CAP HIT Tampa Bay Lightning logo $395,833 $333,333 $333,333 $333,333 $395,833 $333,333 $333,333 $333,333
Savings $666,667 $-333,333 $-333,333 $-333,333 $666,667 $-333,333 $-333,333 $-333,333
ACTUAL CAP HIT Columbus Blue Jackets logo $791,667 $666,667 $666,667 $666,667 $791,667 $666,667 $666,667 $666,667
Savings $1,333,333 $-666,667 $-666,667 $-666,667 $1,333,333 $-666,667 $-666,667 $-666,667
ACTUAL CAP HIT Detroit Red Wings logo $395,833 $333,333 $333,333 $333,333 $395,833 $333,333 $333,333 $333,333
Savings $666,667 $-333,333 $-333,333 $-333,333 $666,667 $-333,333 $-333,333 $-333,333

Active Contract

Signing Team
Signing Date September 8, 2015
Signing Status RFA
Agent Ian Pulver
Standard Contract | 5 Years $21,250,000 5.21% of cap space
2016-2017 2017-2018 2018-2019 2019-2020 2020-2021
Cap Hit $4,250,000 $4,250,000 $4,250,000 $4,250,000 $4,250,000
UFA
AAV $4,250,000 $4,250,000 $4,250,000 $4,250,000 $4,250,000
Performance Bonuses $0 $0 $0 $0 $0
Base Salary $3,500,000 $4,000,000 $4,750,000 $5,000,000 $4,000,000
Signing Bonuses $0 $0 $0 $0 $0
Total Salary $3,500,000 $4,000,000 $4,750,000 $5,000,000 $4,000,000
Minors Salary $3,500,000 $4,000,000 $4,750,000 $5,000,000 $4,000,000
Clauses
UFA Year
Buy It Out
* Retained 50% of contract was retained by Columbus Blue Jackets in trade to Detroit Red Wings
* Retained 25% of contract was retained by Detroit Red Wings in trade to Tampa Bay Lightning