Jordan Spence buyout calculator, cap hit impact

Jordan Spence Buyout Cap Implications

Birthdate February 24, 2001

If Jordan Spence was bought out prior to the 2023-2024 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 $258,333
Remaining base salary
($775,000 * 33% buyout multiplier)
.

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

Annual buyout cost of $129,167
(Total buyout cost/2 years)

Jordan Spence projected buyout 2023-2024 season
2023-2024 2024-2025
Remaining Base Salary
$775,000
$775,000 $0
Original Cap Hit $820,000 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($775,000) ($0)
Annual Buyout Cost $129,167 $129,167
ACTUAL CAP HIT Los Angeles Kings logo $174,167 $129,167
Savings $645,833 $-129,167

Active Contract

Signing Team Los Angeles Kings logo
Signing Date June 3, 2020
Agent Emilie Castonguay
Entry Level Contract | 3 Years $2,460,000 1.01% of cap space
2020-2021 2021-2022 2022-2023 2023-2024
Cap Hit $825,833 $820,000 $820,000 $820,000
RFA
AAV $925,000 $919,167 $919,167 $919,167
Performance Bonuses $0 $132,500 $82,500 $82,500
Base Salary $0 $750,000 $750,000 $775,000
Signing Bonuses $92,500 $92,500 $92,500 $0
Total Salary $92,500 $842,500 $842,500 $775,000
Minors Salary $0 $70,000 $70,000 $70,000
Clauses
ENTRY-LEVEL SLIDE
UFA Year
Buy It Out Buy It Out Buy It Out