Erik Cernak buyout calculator, cap hit impact

Erik Cernak Buyout Cap Implications

Birthdate May 28, 1997

If Erik Cernak was bought out prior to the 2022-2023 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 25 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 $1,475,000
Remaining base salary
($4,425,000 * 33% buyout multiplier)
.

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

Annual buyout cost of $737,500
(Total buyout cost/2 years)

Erik Cernak projected buyout 2022-2023 season
2022-2023 2023-2024
Remaining Base Salary
$4,425,000
$4,425,000 $0
Original Cap Hit $2,950,000 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($4,425,000) ($0)
Annual Buyout Cost $737,500 $737,500
ACTUAL CAP HIT Tampa Bay Lightning logo $-737,500 $737,500
Savings $3,687,500 $-737,500

Active Contract

Signing Team
Signing Date December 22, 2020
Signing Status RFA
Agent Craig Oster
Standard Contract | 3 Years $8,850,000 3.62% of cap space
2020-2021 2021-2022 2022-2023
Cap Hit $2,950,000 $2,950,000 $2,950,000
RFA
AAV $2,950,000 $2,950,000 $2,950,000
Performance Bonuses $0 $0 $0
Base Salary $775,000 $1,950,000 $4,425,000
Signing Bonuses $700,000 $1,000,000 $0
Total Salary $1,475,000 $2,950,000 $4,425,000
Minors Salary $1,475,000 $2,950,000 $4,425,000
Clauses
UFA Year
Buy It Out Buy It Out