Jake Virtanen buyout calculator, cap hit impact

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Jake Virtanen Buyout Cap Implications

Birthdate August 17, 1996

Jake Virtanen was bought by Vancouver Canucks logo 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 Vancouver Canucks logo $50,000 $500,000
Savings $2,500,000 $-500,000