Jack Johnson buyout calculator, cap hit impact

Jack Johnson Buyout Cap Implications

Birthdate January 13, 1987

Jack Johnson was bought by Pittsburgh Penguins logo 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 was 33 years old at the buyout giving him a 67% buyout multiplier.
Under 26 = 1/3 multiplier
26+ = 2/3 multiplier

The total buyout cost was $5,500,000
Remaining base salary
($8,250,000 * 67% buyout multiplier)
.

3 years left in contract.
Buyout applied over 6 years
(2x years remaining on contract)

Annual buyout cost of $916,667
(Total buyout cost/6 years)

Jack Johnson buyout details 2020-2021 season
2020-2021 2021-2022 2022-2023 2023-2024 2024-2025 2025-2026
Remaining Base Salary
$8,250,000
$3,000,000 $3,000,000 $2,250,000 $0 $0 $0
Original Cap Hit $3,250,000 $3,250,000 $3,250,000 $0 $0 $0
Contract Signing Bonus $0 $0 $0 $0 $0 $0
Contract Total Salary ($3,000,000) ($3,000,000) ($2,250,000) ($0) ($0) ($0)
Annual Buyout Cost $916,667 $916,667 $916,667 $916,667 $916,667 $916,667
ACTUAL CAP HIT Pittsburgh Penguins logo $1,166,667 $1,166,667 $1,916,667 $916,667 $916,667 $916,667
Savings $2,083,333 $2,083,333 $1,333,333 $-916,667 $-916,667 $-916,667

Active Contract

Signing Team Colorado Avalanche logo
Signing Date October 10, 2021
Signing Status UFA
Agent Pat Brisson
Standard Contract | 1 Years $750,000 0.92% of cap space
2021-2022
Cap Hit $750,000
UFA
AAV $750,000
Performance Bonuses $0
Base Salary $750,000
Signing Bonuses $0
Total Salary $750,000
Minors Salary $750,000
Clauses
UFA Year
Buy It Out