Joe Thornton buyout calculator, cap hit impact


Joe Thornton Buyout Cap Implications

Birthdate July 2, 1979

If Joe Thornton was bought out prior to the 2019-2020 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 39 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 $1,333,333
Remaining base salary
($2,000,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $666,667
(Total buyout cost/2 years)

Joe Thornton projected buyout 2019-2020 season
2019-2020 2020-2021
Remaining Base Salary
$2,000,000
$2,000,000 $0
Original Cap Hit $2,000,000 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($2,000,000) ($0)
Annual Buyout Cost $666,667 $666,667
ACTUAL CAP HIT San Jose Sharks logo $666,667 $666,667
Savings $1,333,333 $-666,667

Active Contract

Signing Team
Signing Date September 6, 2019
Signing Status UFA
Agent John Thornton
Standard Contract | 1 Years $2,000,000 2.45% of cap space
2019-2020
Cap Hit $2,000,000
UFA
AAV $2,000,000
Performance Bonuses $0
Base Salary $2,000,000
Signing Bonuses $0
Total Salary $2,000,000
Minors Salary $2,000,000
Clauses
UFA Year
Buy It Out