Derek Stepan buyout calculator, cap hit impact

Derek Stepan Buyout Cap Implications

Birthdate June 18, 1990

If Derek Stepan was bought out prior to the 2021-2022 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 $900,000
Remaining base salary
($1,350,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $450,000
(Total buyout cost/2 years)

Derek Stepan projected buyout 2021-2022 season
2021-2022 2022-2023
Remaining Base Salary
$1,350,000
$1,350,000 $0
Original Cap Hit $1,350,000 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($1,350,000) ($0)
Annual Buyout Cost $450,000 $450,000
ACTUAL CAP HIT Carolina Hurricanes logo $450,000 $450,000
Savings $900,000 $-450,000

Active Contract

Signing Team Carolina Hurricanes logo
Signing Date July 31, 2021
Signing Status UFA
Agent Matthew Oates
Standard Contract | 1 Years $1,350,000 1.66% of cap space
2021-2022
Cap Hit $1,350,000
UFA
AAV $1,350,000
Performance Bonuses $0
Base Salary $1,350,000
Signing Bonuses $0
Total Salary $1,350,000
Minors Salary $1,350,000
Clauses
UFA Year
Buy It Out