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 35 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 $20,400,000
Remaining base salary
($30,600,000 * 67% buyout multiplier)
.

6 years left in contract.
Buyout applied over 12 years
(2x years remaining on contract)

Annual buyout cost of $1,700,000
(Total buyout cost/12 years)

Kris Letang projected buyout 2021-2022 season
2022-2023 2023-2024 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2030 2030-2031 2031-2032 2032-2033 2033-2034
Remaining Base Salary
$30,600,000
$4,000,000 $8,000,000 $6,200,000 $4,800,000 $3,800,000 $3,800,000 $0 $0 $0 $0 $0 $0
Original Cap Hit $6,100,000 $6,100,000 $6,100,000 $6,100,000 $6,100,000 $6,100,000 $0 $0 $0 $0 $0 $0
Contract Signing Bonus $4,000,000 $0 $0 $0 $1,000,000 $1,000,000 $0 $0 $0 $0 $0 $0
Contract Total Salary ($8,000,000) ($8,000,000) ($6,200,000) ($4,800,000) ($4,800,000) ($4,800,000) ($0) ($0) ($0) ($0) ($0) ($0)
Annual Buyout Cost $1,700,000 $1,700,000 $1,700,000 $1,700,000 $1,700,000 $1,700,000 $1,700,000 $1,700,000 $1,700,000 $1,700,000 $1,700,000 $1,700,000
ACTUAL CAP HIT Pittsburgh Penguins logo $3,800,000 $-200,000 $1,600,000 $3,000,000 $4,000,000 $4,000,000 $1,700,000 $1,700,000 $1,700,000 $1,700,000 $1,700,000 $1,700,000
Savings $2,300,000 $6,300,000 $4,500,000 $3,100,000 $2,100,000 $2,100,000 $-1,700,000 $-1,700,000 $-1,700,000 $-1,700,000 $-1,700,000 $-1,700,000

Active Contract

Signing Team Pittsburgh Penguins logo
Signing Date July 7, 2022
Signing Status UFA
Agent Philippe Lecavalier
View Player Profile
Potential Lockout Year
Standard Contract | 6 Years $36,600,000 7.39% of cap space
2022-2023 2023-2024 2024-2025 2025-2026 2026-2027 2027-2028
Cap Hit $6,100,000 $6,100,000 $6,100,000 $6,100,000 $6,100,000 $6,100,000
UFA
AAV $6,100,000 $6,100,000 $6,100,000 $6,100,000 $6,100,000 $6,100,000
Performance Bonuses $0 $0 $0 $0 $0 $0
Base Salary $4,000,000 $8,000,000 $6,200,000 $4,800,000 $3,800,000 $3,800,000
Signing Bonuses $4,000,000 $0 $0 $0 $1,000,000 $1,000,000
Total Salary $8,000,000 $8,000,000 $6,200,000 $4,800,000 $4,800,000 $4,800,000
Minors Salary $8,000,000 $8,000,000 $6,200,000 $4,800,000 $4,800,000 $4,800,000
Clauses NMC NMC NMC NMC M-NTC
NMC
M-NTC
NMC
UFA Year
Buy It Out Buy It Out Buy It Out Buy It Out Buy It Out Buy It Out
10 Team Approved Trade List Years 5 & 6