J.T. Miller buyout calculator, cap hit impact

J.T. Miller Buyout Cap Implications

Birthdate March 14, 1993

If J.T. Miller 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 27 years old at the buyout giving him a 67% buyout multiplier.
Under 26 = 1/3 multiplier
26+ = 2/3 multiplier

The total buyout cost would be $10,000,000
Remaining base salary
($15,000,000 * 67% buyout multiplier)
.

3 years left in contract.
Buyout applied over 6 years
(2x years remaining on contract)

Annual buyout cost of $1,666,667
(Total buyout cost/6 years)

J.T. Miller projected buyout 2020-2021 season
2020-2021 2021-2022 2022-2023 2023-2024 2024-2025 2025-2026
Remaining Base Salary
$15,000,000
$4,500,000 $6,000,000 $4,500,000 $0 $0 $0
Original Cap Hit $5,250,000 $5,250,000 $5,250,000 $0 $0 $0
Contract Signing Bonus $0 $0 $0 $0 $0 $0
Contract Total Salary ($4,500,000) ($6,000,000) ($4,500,000) ($0) ($0) ($0)
Annual Buyout Cost $1,666,667 $1,666,667 $1,666,667 $1,666,667 $1,666,667 $1,666,667
ACTUAL CAP HIT Vancouver Canucks logo $2,416,667 $916,667 $2,416,667 $1,666,667 $1,666,667 $1,666,667
Savings $2,833,333 $4,333,333 $2,833,333 $-1,666,667 $-1,666,667 $-1,666,667

Active Contract

Signing Team
Signing Date June 26, 2018
Signing Status RFA
Agent Brian Bartlett
View Player Profile
Potential Lockout Year
Standard Contract | 5 Years $26,250,000 6.44% of cap space
2018-2019 2019-2020 2020-2021 2021-2022 2022-2023
Cap Hit $5,250,000 $5,250,000 $5,250,000 $5,250,000 $5,250,000
UFA
AAV $5,250,000 $5,250,000 $5,250,000 $5,250,000 $5,250,000
Performance Bonuses $0 $0 $0 $0 $0
Base Salary $5,250,000 $6,000,000 $4,500,000 $6,000,000 $4,500,000
Signing Bonuses $0 $0 $0 $0 $0
Total Salary $5,250,000 $6,000,000 $4,500,000 $6,000,000 $4,500,000
Minors Salary $5,250,000 $6,000,000 $4,500,000 $6,000,000 $4,500,000
Clauses
UFA Year
Buy It Out Buy It Out Buy It Out Buy It Out