Joona Luoto buyout calculator, cap hit impact

Joona Luoto Buyout Cap Implications

Birthdate September 26, 1997

If Joona Luoto 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 22 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)

Joona Luoto 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 $741,667 $741,667 $0 $0
Contract Signing Bonus $0 $0 $0 $0
Contract Total Salary ($700,000) ($750,000) ($0) ($0)
Annual Buyout Cost $120,833 $120,833 $120,833 $120,833
ACTUAL CAP HIT Winnipeg Jets logo $162,500 $112,500 $120,833 $120,833
Savings $579,167 $629,167 $-120,833 $-120,833

Active Contract

Signing Team
Signing Date June 15, 2019
Entry Level Contract | 3 Years $2,225,001 0.91% of cap space
2019-2020 2020-2021 2021-2022
Cap Hit $741,667 $741,667 $741,667
RFA
AAV $758,333 $758,333 $758,333
Performance Bonuses $0 $0 $50,000
Base Salary $700,000 $700,000 $750,000
Signing Bonuses $75,000 $0 $0
Total Salary $775,000 $700,000 $750,000
Minors Salary $70,000 $70,000 $70,000
Clauses
UFA Year
Buy It Out Buy It Out Buy It Out