James Neal buyout calculator, cap hit impact

James Neal Buyout Cap Implications

Birthdate September 3, 1987

If James Neal was bought 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 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 $11,500,000
Remaining base salary
($17,250,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $1,916,667
(Total buyout cost/6 years)

James Neal projected buyout 2020-2021 season
2020-2021 2021-2022 2022-2023 2023-2024 2024-2025 2025-2026
Remaining Base Salary
$17,250,000
$5,750,000 $5,750,000 $5,750,000 $0 $0 $0
Original Cap Hit $5,750,000 $5,750,000 $5,750,000 $0 $0 $0
Contract Signing Bonus $0 $0 $0 $0 $0 $0
Contract Total Salary ($5,750,000) ($5,750,000) ($5,750,000) ($0) ($0) ($0)
Annual Buyout Cost $1,916,667 $1,916,667 $1,916,667 $1,916,667 $1,916,667 $1,916,667
ACTUAL CAP HIT Edmonton Oilers logo $1,916,667 $1,916,667 $1,916,667 $1,916,667 $1,916,667 $1,916,667
Savings $3,833,333 $3,833,333 $3,833,333 $-1,916,667 $-1,916,667 $-1,916,667

Active Contract

Signing Team
Signing Date July 2, 2018
Signing Status UFA
Agent Patrick Morris
View Player Profile
Potential Lockout Year
Standard Contract | 5 Years $28,750,000 7.06% of cap space
2018-2019 2019-2020 2020-2021 2021-2022 2022-2023
Cap Hit $5,750,000 $5,750,000 $5,750,000 $5,750,000 $5,750,000
UFA
AAV $5,750,000 $5,750,000 $5,750,000 $5,750,000 $5,750,000
Performance Bonuses $0 $0 $0 $0 $0
Base Salary $5,750,000 $5,750,000 $5,750,000 $5,750,000 $5,750,000
Signing Bonuses $0 $0 $0 $0 $0
Total Salary $5,750,000 $5,750,000 $5,750,000 $5,750,000 $5,750,000
Minors Salary $5,750,000 $5,750,000 $5,750,000 $5,750,000 $5,750,000
Clauses
UFA Year
Buy It Out Buy It Out Buy It Out Buy It Out