Joel Armia buyout calculator, cap hit impact

Joel Armia Buyout Cap Implications

Birthdate May 31, 1993

If Joel Armia 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 29 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 $7,733,333
Remaining base salary
($11,600,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $1,288,889
(Total buyout cost/6 years)

Joel Armia projected buyout 2022-2023 season
2022-2023 2023-2024 2024-2025 2025-2026 2026-2027 2027-2028
Remaining Base Salary
$11,600,000
$3,000,000 $4,800,000 $3,800,000 $0 $0 $0
Original Cap Hit $3,400,000 $3,400,000 $3,400,000 $0 $0 $0
Contract Signing Bonus $0 $0 $0 $0 $0 $0
Contract Total Salary ($3,000,000) ($4,800,000) ($3,800,000) ($0) ($0) ($0)
Annual Buyout Cost $1,288,889 $1,288,889 $1,288,889 $1,288,889 $1,288,889 $1,288,889
ACTUAL CAP HIT Montreal Canadiens logo $1,688,889 $-111,111 $888,889 $1,288,889 $1,288,889 $1,288,889
Savings $1,711,111 $3,511,111 $2,511,111 $-1,288,889 $-1,288,889 $-1,288,889

Active Contract

Signing Team Montreal Canadiens logo
Signing Date July 27, 2021
Signing Status UFA
Agent Mika Rautakallio
Standard Contract | 4 Years $13,600,000 4.17% of cap space
2021-2022 2022-2023 2023-2024 2024-2025
Cap Hit $3,400,000 $3,400,000 $3,400,000 $3,400,000
UFA
AAV $3,400,000 $3,400,000 $3,400,000 $3,400,000
Performance Bonuses $0 $0 $0 $0
Base Salary $2,000,000 $3,000,000 $4,800,000 $3,800,000
Signing Bonuses $0 $0 $0 $0
Total Salary $2,000,000 $3,000,000 $4,800,000 $3,800,000
Minors Salary $2,000,000 $3,000,000 $4,800,000 $3,800,000
Clauses
UFA Year
Buy It Out Buy It Out Buy It Out Buy It Out