Joel Kellman buyout calculator, cap hit impact

Joel Kellman Buyout Cap Implications

Birthdate May 25, 1994

If Joel Kellman 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 26 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 $1,000,000
Remaining base salary
($1,500,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $250,000
(Total buyout cost/4 years)

Joel Kellman projected buyout 2019-2020 season
2020-2021 2021-2022 2022-2023 2023-2024
Remaining Base Salary
$1,500,000
$700,000 $800,000 $0 $0
Original Cap Hit $750,000 $750,000 $0 $0
Contract Signing Bonus $0 $0 $0 $0
Contract Total Salary ($700,000) ($800,000) ($0) ($0)
Annual Buyout Cost $250,000 $250,000 $250,000 $250,000
ACTUAL CAP HIT San Jose Sharks logo $300,000 $200,000 $250,000 $250,000
Savings $450,000 $550,000 $-250,000 $-250,000

Active Contract

Signing Team
Signing Date August 28, 2020
Signing Status RFA
Agent Michael Deutsch
Standard Contract | 2 Years $1,500,000 0.92% of cap space
2020-2021 2021-2022
Cap Hit $750,000 $750,000
RFA
AAV $750,000 $750,000
Performance Bonuses $0 $0
Base Salary $700,000 $800,000
Signing Bonuses $0 $0
Total Salary $700,000 $800,000
Minors Salary $300,000 $800,000
Clauses
UFA Year
Buy It Out Buy It Out