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 2021-2022 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 $533,333
Remaining base salary
($800,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $266,667
(Total buyout cost/2 years)

Joel Kellman projected buyout 2021-2022 season
2021-2022 2022-2023
Remaining Base Salary
$800,000
$800,000 $0
Original Cap Hit $750,000 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($800,000) ($0)
Annual Buyout Cost $266,667 $266,667
ACTUAL CAP HIT San Jose Sharks logo $216,667 $266,667
Savings $533,333 $-266,667

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