Jon Gillies buyout calculator, cap hit impact


Jon Gillies Buyout Cap Implications

Birthdate January 22, 1994

If Jon Gillies 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 25 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 $250,000
Remaining base salary
($750,000 * 33% buyout multiplier)
.

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

Annual buyout cost of $125,000
(Total buyout cost/2 years)

Jon Gillies projected buyout 2019-2020 season
2019-2020 2020-2021
Remaining Base Salary
$750,000
$750,000 $0
Original Cap Hit $750,000 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($750,000) ($0)
Annual Buyout Cost $125,000 $125,000
ACTUAL CAP HIT Calgary Flames logo $125,000 $125,000
Savings $625,000 $-125,000

Active Contract

Signing Team
Signing Date July 16, 2018
Signing Status RFA
Agent Matt Keator
Standard Contract | 2 Years $1,500,000 0.92% of cap space
2018-2019 2019-2020
Cap Hit $750,000 $750,000
RFA
AAV $750,000 $750,000
Performance Bonuses $0 $0
Base Salary $750,000 $750,000
Signing Bonuses $0 $0
Total Salary $750,000 $750,000
Minors Salary $250,000 $750,000
Clauses
UFA Year
Buy It Out