Mason Millman buyout calculator, cap hit impact

Mason Millman Buyout Cap Implications

Birthdate July 18, 2001

If Mason Millman 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 18 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 $758,333
Remaining base salary
($2,275,000 * 33% buyout multiplier)
.

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

Annual buyout cost of $126,389
(Total buyout cost/6 years)

Mason Millman projected buyout 2020-2021 season
2020-2021 2021-2022 2022-2023 2023-2024 2024-2025 2025-2026
Remaining Base Salary
$2,275,000
$750,000 $750,000 $775,000 $0 $0 $0
Original Cap Hit $848,333 $848,333 $848,333 $0 $0 $0
Contract Signing Bonus $90,000 $90,000 $90,000 $0 $0 $0
Contract Total Salary ($840,000) ($840,000) ($865,000) ($0) ($0) ($0)
Annual Buyout Cost $126,389 $126,389 $126,389 $126,389 $126,389 $126,389
ACTUAL CAP HIT Philadelphia Flyers logo $224,722 $224,722 $199,722 $126,389 $126,389 $126,389
Savings $623,611 $623,611 $648,611 $-126,389 $-126,389 $-126,389

Active Contract

Signing Team
Signing Date December 18, 2020
Agent Joseph Resnick
Entry Level Contract | 3 Years $2,544,999 1.04% of cap space
2020-2021 2021-2022 2022-2023
Cap Hit $848,333 $848,333 $848,333
RFA
AAV $900,000 $900,000 $900,000
Performance Bonuses $60,000 $60,000 $35,000
Base Salary $750,000 $750,000 $775,000
Signing Bonuses $90,000 $90,000 $90,000
Total Salary $840,000 $840,000 $865,000
Minors Salary $70,000 $70,000 $70,000
Clauses
UFA Year
Buy It Out Buy It Out Buy It Out