Janne Kuokkanen buyout calculator, cap hit impact

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Janne Kuokkanen Buyout Cap Implications

Birthdate May 25, 1998

Janne Kuokkanen was bought by New Jersey Devils logo out prior to the 2022-2023 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 $650,000
Remaining base salary
($1,950,000 * 33% buyout multiplier)
.

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

Annual buyout cost of $325,000
(Total buyout cost/2 years)

Janne Kuokkanen buyout details 2022-2023 season
2022-2023 2023-2024
Remaining Base Salary
$1,950,000
$1,950,000 $0
Original Cap Hit $1,825,000 $0
Contract Signing Bonus $100,000 $0
Contract Total Salary ($2,050,000) ($0)
Annual Buyout Cost $325,000 $325,000
ACTUAL CAP HIT New Jersey Devils logo $200,000 $325,000
Savings $1,625,000 $-325,000