Jeff Petry buyout calculator, cap hit impact

Jeff Petry Buyout Cap Implications

Birthdate December 9, 1987

If Jeff Petry 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 34 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 $16,000,000
Remaining base salary
($24,000,000 * 67% buyout multiplier)
.

6 years left in contract.
Buyout applied over 12 years
(2x years remaining on contract)

Annual buyout cost of $1,333,333
(Total buyout cost/12 years)

This contract has retained salary from a previous trade. The buyout costs, and savings are split between the teams as shown below
Jeff Petry projected buyout 2022-2023 season
2022-2023 2022-2023 2023-2024 2023-2024 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2030 2030-2031 2031-2032 2032-2033 2033-2034 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2030 2030-2031 2031-2032 2032-2033 2033-2034
Remaining Base Salary
$24,000,000
$4,500,000 $4,500,000 $4,500,000 $4,500,000 $3,000,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $3,000,000 $0 $0 $0 $0 $0 $0 $0 $0 $0
Original Cap Hit $6,250,000 $6,250,000 $6,250,000 $6,250,000 $6,250,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $6,250,000 $0 $0 $0 $0 $0 $0 $0 $0 $0
Contract Signing Bonus $3,000,000 $3,000,000 $3,000,000 $3,000,000 $2,000,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,000,000 $0 $0 $0 $0 $0 $0 $0 $0 $0
Contract Total Salary ($7,500,000) ($7,500,000) ($7,500,000) ($7,500,000) ($5,000,000) ($0) ($0) ($0) ($0) ($0) ($0) ($0) ($0) ($0) ($5,000,000) ($0) ($0) ($0) ($0) ($0) ($0) ($0) ($0) ($0)
Annual Buyout Cost $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333 $1,333,333
ACTUAL CAP HIT Detroit Red Wings logo $1,156,250 $1,156,250 $1,156,250 $1,156,250 $1,718,750 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $1,718,750 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000
Savings $1,187,500 $1,187,500 $1,187,500 $1,187,500 $625,000 $-500,000 $-500,000 $-500,000 $-500,000 $-500,000 $-500,000 $-500,000 $-500,000 $-500,000 $625,000 $-500,000 $-500,000 $-500,000 $-500,000 $-500,000 $-500,000 $-500,000 $-500,000 $-500,000
ACTUAL CAP HIT Pittsburgh Penguins logo $770,833 $770,833 $770,833 $770,833 $1,145,833 $333,333 $333,333 $333,333 $333,333 $333,333 $333,333 $333,333 $333,333 $333,333 $1,145,833 $333,333 $333,333 $333,333 $333,333 $333,333 $333,333 $333,333 $333,333 $333,333
Savings $791,667 $791,667 $791,667 $791,667 $416,667 $-333,333 $-333,333 $-333,333 $-333,333 $-333,333 $-333,333 $-333,333 $-333,333 $-333,333 $416,667 $-333,333 $-333,333 $-333,333 $-333,333 $-333,333 $-333,333 $-333,333 $-333,333 $-333,333
ACTUAL CAP HIT Montreal Canadiens logo $1,156,250 $1,156,250 $1,156,250 $1,156,250 $1,718,750 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $1,718,750 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000
Savings $1,187,500 $1,187,500 $1,187,500 $1,187,500 $625,000 $-500,000 $-500,000 $-500,000 $-500,000 $-500,000 $-500,000 $-500,000 $-500,000 $-500,000 $625,000 $-500,000 $-500,000 $-500,000 $-500,000 $-500,000 $-500,000 $-500,000 $-500,000 $-500,000

Active Contract

Signing Team Montreal Canadiens logo
Signing Date September 25, 2020
Signing Status UFA
Agent Wade Arnott
Standard Contract | 4 Years $25,000,000 7.49% of cap space
2021-2022 2022-2023 2023-2024 2024-2025
Cap Hit $6,250,000 $6,250,000 $6,250,000 $6,250,000
UFA
AAV $6,250,000 $6,250,000 $6,250,000 $6,250,000
Performance Bonuses $0 $0 $0 $0
Base Salary $5,000,000 $4,500,000 $4,500,000 $3,000,000
Signing Bonuses $0 $3,000,000 $3,000,000 $2,000,000
Total Salary $5,000,000 $7,500,000 $7,500,000 $5,000,000
Minors Salary $5,000,000 $7,500,000 $7,500,000 $5,000,000
Clauses M-NTC M-NTC M-NTC M-NTC
UFA Year
Buy It Out Buy It Out
15 Team No Trade and expansion No Movement * Retained 25% of contract was retained by Pittsburgh Penguins in trade to Montreal Canadiens
* Retained 37.5% of contract was retained by Montreal Canadiens in trade to Detroit Red Wings