Jake Bean buyout calculator, cap hit impact

Jake Bean Buyout Cap Implications

Birthdate June 9, 1998

If Jake Bean 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 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 $966,667
Remaining base salary
($2,900,000 * 33% buyout multiplier)
.

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

Annual buyout cost of $483,333
(Total buyout cost/2 years)

Jake Bean projected buyout 2023-2024 season
2023-2024 2024-2025
Remaining Base Salary
$2,900,000
$2,900,000 $0
Original Cap Hit $2,333,333 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($2,900,000) ($0)
Annual Buyout Cost $483,333 $483,333
ACTUAL CAP HIT Columbus Blue Jackets logo $-83,334 $483,333
Savings $2,416,667 $-483,333

Active Contract

Signing Team Columbus Blue Jackets logo
Signing Date July 29, 2021
Signing Status RFA
Agent Judd Moldaver
Standard Contract | 3 Years $6,999,999 2.83% of cap space
2021-2022 2022-2023 2023-2024
Cap Hit $2,333,333 $2,333,333 $2,333,333
RFA
AAV $2,333,333 $2,333,333 $2,333,333
Performance Bonuses $0 $0 $0
Base Salary $1,900,000 $2,200,000 $2,900,000
Signing Bonuses $0 $0 $0
Total Salary $1,900,000 $2,200,000 $2,900,000
Minors Salary $1,900,000 $2,200,000 $2,900,000
Clauses
UFA Year
Buy It Out Buy It Out