Kevin Labanc buyout calculator, cap hit impact

Kevin Labanc Buyout Cap Implications

Birthdate December 12, 1995

If Kevin Labanc was bought out prior to the 2022-2023 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 26 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 $7,833,333
Remaining base salary
($11,750,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $1,958,333
(Total buyout cost/4 years)

Kevin Labanc projected buyout 2022-2023 season
2022-2023 2023-2024 2024-2025 2025-2026
Remaining Base Salary
$11,750,000
$5,875,000 $5,875,000 $0 $0
Original Cap Hit $4,725,000 $4,725,000 $0 $0
Contract Signing Bonus $0 $0 $0 $0
Contract Total Salary ($5,875,000) ($5,875,000) ($0) ($0)
Annual Buyout Cost $1,958,333 $1,958,333 $1,958,333 $1,958,333
ACTUAL CAP HIT San Jose Sharks logo $808,333 $808,333 $1,958,333 $1,958,333
Savings $3,916,667 $3,916,667 $-1,958,333 $-1,958,333

Active Contract

Signing Team
Signing Date October 10, 2020
Signing Status RFA
Agent Michael Curran
Standard Contract | 4 Years $18,900,000 5.80% of cap space
2020-2021 2021-2022 2022-2023 2023-2024
Cap Hit $4,725,000 $4,725,000 $4,725,000 $4,725,000
RFA
AAV $4,725,000 $4,725,000 $4,725,000 $4,725,000
Performance Bonuses $0 $0 $0 $0
Base Salary $1,700,000 $2,950,000 $5,875,000 $5,875,000
Signing Bonuses $1,500,000 $1,000,000 $0 $0
Total Salary $3,200,000 $3,950,000 $5,875,000 $5,875,000
Minors Salary $3,200,000 $3,950,000 $5,875,000 $5,875,000
Clauses
UFA Year
Buy It Out Buy It Out Buy It Out Buy It Out