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 2024-2025 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 36 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 $4,000,000
Remaining base salary
($6,000,000 * 67% buyout multiplier)
.

2 years left in contract.
Buyout applied over 4 years
(2x years remaining on contract)

Annual buyout cost of $1,000,000
(Total buyout cost/4 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 2024-2025 season
2024-2025 2025-2026 2026-2027 2027-2028 2024-2025 2025-2026 2026-2027 2027-2028
Remaining Base Salary
$6,000,000
$3,000,000 $0 $0 $0 $3,000,000 $0 $0 $0
Original Cap Hit $6,250,000 $0 $0 $0 $6,250,000 $0 $0 $0
Contract Signing Bonus $2,000,000 $0 $0 $0 $2,000,000 $0 $0 $0
Contract Total Salary ($5,000,000) ($0) ($0) ($0) ($5,000,000) ($0) ($0) ($0)
Annual Buyout Cost $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000
ACTUAL CAP HIT Detroit Red Wings logo $1,593,750 $375,000 $375,000 $375,000 $1,593,750 $375,000 $375,000 $375,000
Savings $750,000 $-375,000 $-375,000 $-375,000 $750,000 $-375,000 $-375,000 $-375,000
ACTUAL CAP HIT Pittsburgh Penguins logo $1,062,500 $250,000 $250,000 $250,000 $1,062,500 $250,000 $250,000 $250,000
Savings $500,000 $-250,000 $-250,000 $-250,000 $500,000 $-250,000 $-250,000 $-250,000
ACTUAL CAP HIT Montreal Canadiens logo $1,593,750 $375,000 $375,000 $375,000 $1,593,750 $375,000 $375,000 $375,000
Savings $750,000 $-375,000 $-375,000 $-375,000 $750,000 $-375,000 $-375,000 $-375,000

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