Joey Keane buyout calculator, cap hit impact

Joey Keane Buyout Cap Implications

Birthdate July 2, 1999

If Joey Keane 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 20 years old at the buyout giving him a 33% buyout multiplier.
Under 26 = 1/3 multiplier
26+ = 2/3 multiplier

The total buyout cost would be $483,333
Remaining base salary
($1,450,000 * 33% buyout multiplier)
.

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

Annual buyout cost of $120,833
(Total buyout cost/4 years)

Joey Keane projected buyout 2020-2021 season
2020-2021 2021-2022 2022-2023 2023-2024
Remaining Base Salary
$1,450,000
$700,000 $750,000 $0 $0
Original Cap Hit $809,166 $809,166 $0 $0
Contract Signing Bonus $92,500 $92,500 $0 $0
Contract Total Salary ($792,500) ($842,500) ($0) ($0)
Annual Buyout Cost $120,833 $120,833 $120,833 $120,833
ACTUAL CAP HIT Carolina Hurricanes logo $229,999 $179,999 $120,833 $120,833
Savings $579,167 $629,167 $-120,833 $-120,833

Active Contract

Signing Team
Signing Date March 1, 2019
Agent Keith McKittrick
Entry Level Contract | 3 Years $2,427,498 0.99% of cap space
2019-2020 2020-2021 2021-2022
Cap Hit $809,166 $809,166 $809,166
RFA
AAV $925,000 $925,000 $925,000
Performance Bonuses $132,500 $132,500 $82,500
Base Salary $700,000 $700,000 $750,000
Signing Bonuses $92,500 $92,500 $92,500
Total Salary $792,500 $792,500 $842,500
Minors Salary $70,000 $70,000 $70,000
Clauses
UFA Year
Buy It Out Buy It Out Buy It Out