Jared Spurgeon buyout calculator, cap hit impact

Jared Spurgeon Buyout Cap Implications

Birthdate November 29, 1989

If Jared Spurgeon was bought 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 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 $23,350,000
Remaining base salary
($35,025,000 * 67% buyout multiplier)
.

5 years left in contract.
Buyout applied over 10 years
(2x years remaining on contract)

Annual buyout cost of $2,335,000
(Total buyout cost/10 years)

Jared Spurgeon projected buyout 2022-2023 season
2022-2023 2023-2024 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2030 2030-2031 2031-2032
Remaining Base Salary
$35,025,000
$6,000,000 $8,000,000 $8,000,000 $7,000,000 $6,025,000 $0 $0 $0 $0 $0
Original Cap Hit $7,575,000 $7,575,000 $7,575,000 $7,575,000 $7,575,000 $0 $0 $0 $0 $0
Contract Signing Bonus $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Contract Total Salary ($6,000,000) ($8,000,000) ($8,000,000) ($7,000,000) ($6,025,000) ($0) ($0) ($0) ($0) ($0)
Annual Buyout Cost $2,335,000 $2,335,000 $2,335,000 $2,335,000 $2,335,000 $2,335,000 $2,335,000 $2,335,000 $2,335,000 $2,335,000
ACTUAL CAP HIT Minnesota Wild logo $3,910,000 $1,910,000 $1,910,000 $2,910,000 $3,885,000 $2,335,000 $2,335,000 $2,335,000 $2,335,000 $2,335,000
Savings $3,665,000 $5,665,000 $5,665,000 $4,665,000 $3,690,000 $-2,335,000 $-2,335,000 $-2,335,000 $-2,335,000 $-2,335,000

Active Contract

Signing Team
Signing Date September 14, 2019
Signing Status UFA
Agent Eustace King
Standard Contract | 7 Years $53,025,000 9.29% of cap space
2020-2021 2021-2022 2022-2023 2023-2024 2024-2025 2025-2026 2026-2027
Cap Hit $7,575,000 $7,575,000 $7,575,000 $7,575,000 $7,575,000 $7,575,000 $7,575,000
UFA
AAV $7,575,000 $7,575,000 $7,575,000 $7,575,000 $7,575,000 $7,575,000 $7,575,000
Performance Bonuses $0 $0 $0 $0 $0 $0 $0
Base Salary $5,000,000 $5,000,000 $6,000,000 $8,000,000 $8,000,000 $7,000,000 $6,025,000
Signing Bonuses $4,000,000 $4,000,000 $0 $0 $0 $0 $0
Total Salary $9,000,000 $9,000,000 $6,000,000 $8,000,000 $8,000,000 $7,000,000 $6,025,000
Minors Salary $9,000,000 $9,000,000 $6,000,000 $8,000,000 $8,000,000 $7,000,000 $6,025,000
Clauses NMC NMC NMC NMC M-NTC M-NTC M-NTC
UFA Year
Buy It Out Buy It Out Buy It Out Buy It Out Buy It Out Buy It Out Buy It Out
Years 5-7: 10 Team No Trade per Michael Russo