Jansen Harkins buyout calculator, cap hit impact

Jansen Harkins Buyout Cap Implications

Birthdate May 23, 1997

If Jansen Harkins was bought 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 would be 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 would be $250,000
Remaining base salary
($750,000 * 33% buyout multiplier)
.

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

Annual buyout cost of $125,000
(Total buyout cost/2 years)

Jansen Harkins projected buyout 2021-2022 season
2021-2022 2022-2023
Remaining Base Salary
$750,000
$750,000 $0
Original Cap Hit $725,000 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($750,000) ($0)
Annual Buyout Cost $125,000 $125,000
ACTUAL CAP HIT Winnipeg Jets logo $100,000 $125,000
Savings $625,000 $-125,000

Active Contract

Signing Team Winnipeg Jets logo
Signing Date October 27, 2020
Signing Status RFA
Agent Craig Oster
Standard Contract | 2 Years $1,450,000 0.89% of cap space
2020-2021 2021-2022
Cap Hit $725,000 $725,000
RFA
AAV $725,000 $725,000
Performance Bonuses $0 $0
Base Salary $700,000 $750,000
Signing Bonuses $0 $0
Total Salary $700,000 $750,000
Minors Salary $700,000 $750,000
Clauses
UFA Year
Buy It Out
Minors Salary Unconfirmed