Matt Tomkins buyout calculator, cap hit impact

Matt Tomkins Buyout Cap Implications

Birthdate June 19, 1994

If Matt Tomkins was bought out prior to the 2024-2025 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 30 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 $516,667
Remaining base salary
($775,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $258,333
(Total buyout cost/2 years)

Matt Tomkins projected buyout 2024-2025 season
2024-2025 2025-2026
Remaining Base Salary
$775,000
$775,000 $0
Original Cap Hit $775,000 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($775,000) ($0)
Annual Buyout Cost $258,333 $258,333
ACTUAL CAP HIT Tampa Bay Lightning logo $258,333 $258,333
Savings $516,667 $-258,333

Active Contract

Signing Team Tampa Bay Lightning logo
Signing Date May 10, 2023
Signing Status UFA
Agent Brian Bartlett
Standard Contract | 2 Years $1,550,000 0.93% of cap space
2023-2024 2024-2025
Cap Hit $775,000 $775,000
UFA
AAV $775,000 $775,000
Performance Bonuses $0 $0
Base Salary $775,000 $775,000
Signing Bonuses $0 $0
Total Salary $775,000 $775,000
Minors Salary $250,000 $250,000
Clauses
UFA Year
Buy It Out Buy It Out
$350K Guaranteed