Luke Prokop buyout calculator, cap hit impact

Northstar Bets Northstar Bets

Luke Prokop Buyout Cap Implications

Birthdate May 6, 2002

If Luke Prokop was bought out prior to the 2023-2024 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 21 years old at the buyout giving him a 33% buyout multiplier.
Under 26 = 1/3 multiplier
26+ = 2/3 multiplier

The total buyout cost would be $516,667
Remaining base salary
($1,550,000 * 33% buyout multiplier)
.

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

Annual buyout cost of $129,167
(Total buyout cost/4 years)

Luke Prokop projected buyout 2023-2024 season
2023-2024 2024-2025 2025-2026 2026-2027
Remaining Base Salary
$1,550,000
$775,000 $775,000 $0 $0
Original Cap Hit $793,333 $793,333 $0 $0
Contract Signing Bonus $0 $0 $0 $0
Contract Total Salary ($775,000) ($775,000) ($0) ($0)
Annual Buyout Cost $129,167 $129,167 $129,167 $129,167
ACTUAL CAP HIT Nashville Predators logo $147,500 $147,500 $129,167 $129,167
Savings $645,833 $645,833 $-129,167 $-129,167

Active Contract

Signing Team Nashville Predators logo
Signing Date December 9, 2020
Agent Gerry Johannson
Entry Level Contract | 3 Years $2,379,999 0.99% of cap space
2020-2021 2021-2022 2022-2023 2023-2024 2024-2025
Cap Hit $813,333 $811,667 $793,333 $793,333 $793,333
RFA
AAV $820,000 $818,333 $800,000 $800,000 $800,000
Performance Bonuses $0 $0 $20,000 $0 $0
Base Salary $0 $0 $750,000 $775,000 $775,000
Signing Bonuses $80,000 $80,000 $80,000 $0 $0
Total Salary $80,000 $80,000 $830,000 $775,000 $775,000
Minors Salary $0 $0 $70,000 $70,000 $70,000
Clauses
ENTRY-LEVEL SLIDE
ENTRY-LEVEL SLIDE
UFA Year
Buy It Out Buy It Out Buy It Out