Joakim Nygard buyout calculator, cap hit impact

Joakim Nygard Buyout Cap Implications

Birthdate January 8, 1993

If Joakim Nygard was bought out prior to the 2020-2021 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 27 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 $583,333
Remaining base salary
($875,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $291,667
(Total buyout cost/2 years)

Joakim Nygard projected buyout 2020-2021 season
2020-2021 2021-2022
Remaining Base Salary
$875,000
$875,000 $0
Original Cap Hit $875,000 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($875,000) ($0)
Annual Buyout Cost $291,667 $291,667
ACTUAL CAP HIT Edmonton Oilers logo $291,667 $291,667
Savings $583,333 $-291,667

Active Contract

Signing Team
Signing Date February 11, 2020
Signing Status UFA
Agent Matt Keator
Standard Contract | 1 Years $875,000 1.07% of cap space
2020-2021
Cap Hit $875,000
UFA
AAV $875,000
Performance Bonuses $0
Base Salary $875,000
Signing Bonuses $0
Total Salary $875,000
Minors Salary $875,000
Clauses
UFA Year
Buy It Out