Kyle Palmieri buyout calculator, cap hit impact

Kyle Palmieri Buyout Cap Implications

Birthdate February 1, 1991

If Kyle Palmieri 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 29 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 $2,833,333
Remaining base salary
($4,250,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $1,416,667
(Total buyout cost/2 years)

This contract has retained salary from a previous trade. The buyout costs, and savings are split between the teams as shown below
Kyle Palmieri projected buyout 2020-2021 season
2020-2021 2021-2022
Remaining Base Salary
$4,250,000
$4,250,000 $0
Original Cap Hit $4,650,000 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($4,250,000) ($0)
Annual Buyout Cost $1,416,667 $1,416,667
ACTUAL CAP HIT New York Islanders logo $908,333 $708,333
Savings $1,416,667 $-708,333
ACTUAL CAP HIT New Jersey Devils logo $908,333 $708,333
Savings $1,416,667 $-708,333

Active Contract

Signing Team
Signing Date July 7, 2016
Signing Status RFA
Agent Stephen Bartlett
Standard Contract | 5 Years $23,250,000 5.71% of cap space
2016-2017 2017-2018 2018-2019 2019-2020 2020-2021
Cap Hit $4,650,000 $4,650,000 $4,650,000 $4,650,000 $4,650,000
UFA
AAV $4,650,000 $4,650,000 $4,650,000 $4,650,000 $4,650,000
Performance Bonuses $0 $0 $0 $0 $0
Base Salary $4,500,000 $4,500,000 $5,000,000 $5,000,000 $4,250,000
Signing Bonuses $0 $0 $0 $0 $0
Total Salary $4,500,000 $4,500,000 $5,000,000 $5,000,000 $4,250,000
Minors Salary $4,500,000 $4,500,000 $5,000,000 $5,000,000 $4,250,000
Clauses M-NTC M-NTC M-NTC
UFA Year
Buy It Out
* Retained 50% of contract was retained by New Jersey Devils in trade to New York Islanders