Luke Witkowski buyout calculator, cap hit impact


Luke Witkowski Buyout Cap Implications

Birthdate April 14, 1990

If Luke Witkowski was bought out prior to the 2019-2020 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 $933,333
Remaining base salary
($1,400,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $233,333
(Total buyout cost/4 years)

Luke Witkowski projected buyout 2019-2020 season
2019-2020 2020-2021 2021-2022 2022-2023
Remaining Base Salary
$1,400,000
$700,000 $700,000 $0 $0
Original Cap Hit $700,000 $700,000 $0 $0
Contract Signing Bonus $0 $0 $0 $0
Contract Total Salary ($700,000) ($700,000) ($0) ($0)
Annual Buyout Cost $233,333 $233,333 $233,333 $233,333
ACTUAL CAP HIT Tampa Bay Lightning logo $233,333 $233,333 $233,333 $233,333
Savings $466,667 $466,667 $-233,333 $-233,333

Active Contract

Signing Team
Signing Date July 1, 2019
Signing Status UFA
Agent Matthew Oates
View Player Profile
Potential Lockout Year
Standard Contract | 2 Years $1,400,000 0.86% of cap space
2019-2020 2020-2021
Cap Hit $700,000 $700,000
UFA
AAV $700,000 $700,000
Performance Bonuses $0 $0
Base Salary $700,000 $700,000
Signing Bonuses $0 $0
Total Salary $700,000 $700,000
Minors Salary $250,000 $250,000
Clauses
UFA Year
Buy It Out Buy It Out