Garnet Hathaway buyout calculator, cap hit impact

Garnet Hathaway Buyout Cap Implications

Birthdate November 23, 1991

If Garnet Hathaway 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 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 $1,333,333
Remaining base salary
($2,000,000 * 67% buyout multiplier)
.

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

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

Garnet Hathaway projected buyout 2021-2022 season
2021-2022 2022-2023 2023-2024 2024-2025
Remaining Base Salary
$2,000,000
$800,000 $1,200,000 $0 $0
Original Cap Hit $1,500,000 $1,500,000 $0 $0
Contract Signing Bonus $700,000 $0 $0 $0
Contract Total Salary ($1,500,000) ($1,200,000) ($0) ($0)
Annual Buyout Cost $333,333 $333,333 $333,333 $333,333
ACTUAL CAP HIT Washington Capitals logo $1,033,333 $633,333 $333,333 $333,333
Savings $466,667 $866,667 $-333,333 $-333,333

Active Contract

Signing Team
Signing Date July 1, 2019
Signing Status UFA
Agent Matt Keator
Standard Contract | 4 Years $6,000,000 1.84% of cap space
2019-2020 2020-2021 2021-2022 2022-2023
Cap Hit $1,500,000 $1,500,000 $1,500,000 $1,500,000
UFA
AAV $1,500,000 $1,500,000 $1,500,000 $1,500,000
Performance Bonuses $0 $0 $0 $0
Base Salary $700,000 $1,300,000 $800,000 $1,200,000
Signing Bonuses $1,300,000 $0 $700,000 $0
Total Salary $2,000,000 $1,300,000 $1,500,000 $1,200,000
Minors Salary $2,000,000 $1,300,000 $1,500,000 $1,200,000
Clauses
UFA Year
Buy It Out Buy It Out Buy It Out