Ian Cole buyout calculator, cap hit impact

Ian Cole Buyout Cap Implications

Birthdate February 21, 1989

If Ian Cole 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 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 $2,000,000
Remaining base salary
($3,000,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $1,000,000
(Total buyout cost/2 years)

This contract has retained salary from a previous trade. The buyout costs, and savings are split between the teams as shown below
Ian Cole projected buyout 2020-2021 season
2020-2021 2021-2022
Remaining Base Salary
$3,000,000
$3,000,000 $0
Original Cap Hit $4,250,000 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($3,000,000) ($0)
Annual Buyout Cost $1,000,000 $1,000,000
ACTUAL CAP HIT Minnesota Wild logo $1,826,471 $811,765
Savings $1,623,530 $-811,765
ACTUAL CAP HIT Colorado Avalanche logo $423,529 $188,235
Savings $376,470 $-188,235

Active Contract

Signing Team
Signing Date July 1, 2018
Signing Status UFA
Agent Kevin Magnuson
Standard Contract | 3 Years $12,750,000 5.21% of cap space
2018-2019 2019-2020 2020-2021
Cap Hit $4,250,000 $4,250,000 $4,250,000
UFA
AAV $4,250,000 $4,250,000 $4,250,000
Performance Bonuses $0 $0 $0
Base Salary $5,000,000 $4,750,000 $3,000,000
Signing Bonuses $0 $0 $0
Total Salary $5,000,000 $4,750,000 $3,000,000
Minors Salary $5,000,000 $4,750,000 $3,000,000
Clauses
UFA Year
Buy It Out
* Retained 18.8235% of contract was retained by Colorado Avalanche in trade to Minnesota Wild