Jared McCann buyout calculator, cap hit impact

Jared McCann Buyout Cap Implications

Birthdate May 31, 1996

If Jared McCann 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 25 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 $1,126,667
Remaining base salary
($3,380,000 * 33% buyout multiplier)
.

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

Annual buyout cost of $563,333
(Total buyout cost/2 years)

Jared McCann projected buyout 2021-2022 season
2021-2022 2022-2023
Remaining Base Salary
$3,380,000
$3,380,000 $0
Original Cap Hit $2,940,000 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($3,380,000) ($0)
Annual Buyout Cost $563,333 $563,333
ACTUAL CAP HIT Seattle Kraken logo $123,333 $563,333
Savings $2,816,667 $-563,333

Active Contract

Signing Team Pittsburgh Penguins logo
Signing Date September 18, 2020
Signing Status RFA
Agent Joseph Resnick
Standard Contract | 2 Years $5,880,000 3.61% of cap space
2020-2021 2021-2022
Cap Hit $2,940,000 $2,940,000
RFA
AAV $2,940,000 $2,940,000
Performance Bonuses $0 $0
Base Salary $2,500,000 $3,380,000
Signing Bonuses $0 $0
Total Salary $2,500,000 $3,380,000
Minors Salary $2,500,000 $3,380,000
Clauses
UFA Year
Buy It Out