Josef Korenar buyout calculator, cap hit impact

Josef Korenar Buyout Cap Implications

Birthdate January 31, 1998

If Josef Korenar 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 21 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 $466,667
Remaining base salary
($1,400,000 * 33% buyout multiplier)
.

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

Annual buyout cost of $116,667
(Total buyout cost/4 years)

Josef Korenar projected buyout 2019-2020 season
2019-2020 2020-2021 2021-2022 2022-2023
Remaining Base Salary
$1,400,000
$700,000 $700,000 $0 $0
Original Cap Hit $723,333 $723,333 $0 $0
Contract Signing Bonus $60,000 $0 $0 $0
Contract Total Salary ($760,000) ($700,000) ($0) ($0)
Annual Buyout Cost $116,667 $116,667 $116,667 $116,667
ACTUAL CAP HIT San Jose Sharks logo $140,000 $140,000 $116,667 $116,667
Savings $583,333 $583,333 $-116,667 $-116,667

Active Contract

Signing Team
Signing Date July 13, 2017
Agent Craig Oster
Entry Level Contract | 3 Years $2,169,999 0.91% of cap space
2017-2018 2018-2019 2019-2020 2020-2021
Cap Hit $743,333 $723,333 $723,333 $723,333
RFA
AAV $743,333 $723,333 $723,333 $723,333
Performance Bonuses $0 $0 $0 $0
Base Salary $0 $650,000 $700,000 $700,000
Signing Bonuses $60,000 $60,000 $60,000 $0
Total Salary $0 $710,000 $760,000 $700,000
Minors Salary $0 $70,000 $70,000 $70,000
Clauses
ENTRY-LEVEL SLIDE
UFA Year
Buy It Out