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 2021-2022 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 28 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 $7,000,000
Remaining base salary
($10,500,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $1,750,000
(Total buyout cost/4 years)

J.T. Miller projected buyout 2021-2022 season
2021-2022 2022-2023 2023-2024 2024-2025
Remaining Base Salary
$10,500,000
$6,000,000 $4,500,000 $0 $0
Original Cap Hit $5,250,000 $5,250,000 $0 $0
Contract Signing Bonus $0 $0 $0 $0
Contract Total Salary ($6,000,000) ($4,500,000) ($0) ($0)
Annual Buyout Cost $1,750,000 $1,750,000 $1,750,000 $1,750,000
ACTUAL CAP HIT Vancouver Canucks logo $1,000,000 $2,500,000 $1,750,000 $1,750,000
Savings $4,250,000 $2,750,000 $-1,750,000 $-1,750,000

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