Kris Letang buyout calculator, cap hit impact

Kris Letang Buyout Cap Implications

Birthdate April 24, 1987

If Kris Letang 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 34 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 $4,833,333
Remaining base salary
($7,250,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $2,416,667
(Total buyout cost/2 years)

Kris Letang projected buyout 2021-2022 season
2021-2022 2022-2023
Remaining Base Salary
$7,250,000
$7,250,000 $0
Original Cap Hit $7,250,000 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($7,250,000) ($0)
Annual Buyout Cost $2,416,667 $2,416,667
ACTUAL CAP HIT Pittsburgh Penguins logo $2,416,667 $2,416,667
Savings $4,833,333 $-2,416,667

Active Contract

Signing Team
Signing Date June 30, 2013
Signing Status UFA
Agent Kent Hughes
Standard Contract | 8 Years $58,000,000 8.90% of cap space
2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022
Cap Hit $7,250,000 $7,250,000 $7,250,000 $7,250,000 $7,250,000 $7,250,000 $7,250,000 $7,250,000
UFA
AAV $7,250,000 $7,250,000 $7,250,000 $7,250,000 $7,250,000 $7,250,000 $7,250,000 $7,250,000
Performance Bonuses $0 $0 $0 $0 $0 $0 $0 $0
Base Salary $7,250,000 $7,250,000 $7,250,000 $7,250,000 $7,250,000 $7,250,000 $7,250,000 $7,250,000
Signing Bonuses $0 $0 $0 $0 $0 $0 $0 $0
Total Salary $7,250,000 $7,250,000 $7,250,000 $7,250,000 $7,250,000 $7,250,000 $7,250,000 $7,250,000
Minors Salary $7,250,000 $7,250,000 $7,250,000 $7,250,000 $7,250,000 $7,250,000 $7,250,000 $7,250,000
Clauses M-NTC
NMC
M-NTC
NMC
M-NTC
NMC
M-NTC
NMC
M-NTC
NMC
M-NTC
NMC
M-NTC
NMC
M-NTC
NMC
UFA Year
Buy It Out