Jake Virtanen buyout calculator, cap hit impact
Jake Virtanen Buyout Cap Implications
Birthdate August 17, 1996
Jake Virtanen was bought by 
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 was 24 years old at the buyout giving him a 33% buyout multiplier.
Under 26 = 1/3 multiplier
26+ = 2/3 multiplier
The total buyout cost was $1,000,000
Remaining base salary
($3,000,000 * 33% buyout multiplier).
1 years left in contract.
Buyout applied over 2 years
(2x years remaining on contract)
Annual buyout cost of $500,000
(Total buyout cost/2 years)
Jake Virtanen buyout details 2021-2022 season
2021-2022
2022-2023
Remaining Base Salary
$3,000,000
$3,000,000
$0
Original Cap Hit
$2,550,000
$0
Contract Signing Bonus
$400,000
$0
Contract Total Salary
($3,400,000)
($0)
Annual Buyout Cost
$500,000
$500,000
ACTUAL CAP HIT
$50,000
$500,000
Savings
$2,500,000
$-500,000
Birthdate August 17, 1996
Jake Virtanen was bought by
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 was 24 years old at the buyout giving him a 33% buyout multiplier.
Under 26 = 1/3 multiplier
26+ = 2/3 multiplier
The total buyout cost was $1,000,000
Remaining base salary
($3,000,000 * 33% buyout multiplier).
1 years left in contract.
Buyout applied over 2 years
(2x years remaining on contract)
Annual buyout cost of $500,000
(Total buyout cost/2 years)
Jake Virtanen buyout details 2021-2022 season
| 2021-2022 | 2022-2023 | |
|---|---|---|
| Remaining Base Salary $3,000,000 |
$3,000,000 | $0 |
| Original Cap Hit | $2,550,000 | $0 |
| Contract Signing Bonus | $400,000 | $0 |
| Contract Total Salary | ($3,400,000) | ($0) |
| Annual Buyout Cost | $500,000 | $500,000 |
| ACTUAL CAP HIT
|
$50,000 | $500,000 |
| Savings | $2,500,000 | $-500,000 |