Michael McLeod buyout calculator, cap hit impact


Michael McLeod Buyout Cap Implications

Birthdate February 3, 1998

If Michael McLeod 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 22 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 $277,500
Remaining base salary
($832,500 * 33% buyout multiplier)
.

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

Annual buyout cost of $138,750
(Total buyout cost/2 years)

Michael McLeod projected buyout 2020-2021 season
2020-2021 2021-2022
Remaining Base Salary
$832,500
$832,500 $0
Original Cap Hit $863,333 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($832,500) ($0)
Annual Buyout Cost $138,750 $138,750
ACTUAL CAP HIT New Jersey Devils logo $169,583 $138,750
Savings $693,750 $-138,750

Active Contract

Signing Team
Signing Date October 7, 2016
Agent Joseph Resnick
Entry Level Contract | 3 Years $2,589,999 1.13% of cap space
2016-2017 2017-2018 2018-2019 2019-2020 2020-2021
Cap Hit $925,000 $894,166 $863,333 $863,333 $863,333
RFA
AAV $1,425,000 $1,394,166 $1,363,333 $1,363,333 $1,363,333
Performance Bonuses $0 $0 $500,000 $500,000 $500,000
Base Salary $0 $0 $832,500 $832,500 $832,500
Signing Bonuses $92,500 $92,500 $92,500 $0 $0
Total Salary $0 $0 $925,000 $832,500 $832,500
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