Jake Allen buyout calculator, cap hit impact

Jake Allen Buyout Cap Implications

Birthdate August 7, 1990

If Jake Allen was bought out prior to the 2023-2024 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 32 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 $4,133,333
Remaining base salary
($6,200,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $1,033,333
(Total buyout cost/4 years)

Jake Allen projected buyout 2023-2024 season
2023-2024 2024-2025 2025-2026 2026-2027
Remaining Base Salary
$6,200,000
$3,900,000 $2,300,000 $0 $0
Original Cap Hit $3,850,000 $3,850,000 $0 $0
Contract Signing Bonus $500,000 $1,000,000 $0 $0
Contract Total Salary ($4,400,000) ($3,300,000) ($0) ($0)
Annual Buyout Cost $1,033,333 $1,033,333 $1,033,333 $1,033,333
ACTUAL CAP HIT Montreal Canadiens logo $983,333 $2,583,333 $1,033,333 $1,033,333
Savings $2,866,667 $1,266,667 $-1,033,333 $-1,033,333

Active Contract

Signing Team Montreal Canadiens logo
Signing Date October 1, 2022
Signing Status UFA
Agent Allain Roy
Standard Contract | 2 Years $7,700,000 4.61% of cap space
2023-2024 2024-2025
Cap Hit $3,850,000 $3,850,000
UFA
AAV $3,850,000 $3,850,000
Performance Bonuses $0 $0
Base Salary $3,900,000 $2,300,000
Signing Bonuses $500,000 $1,000,000
Total Salary $4,400,000 $3,300,000
Minors Salary $4,400,000 $3,300,000
Clauses M-NTC M-NTC
UFA Year
Buy It Out Buy It Out
Yr 1: 7 Team No Trade List; Yr 2: 3 Team No Trade List