Mike Matheson buyout calculator, cap hit impact

Mike Matheson Buyout Cap Implications

Birthdate February 27, 1994

If Mike Matheson 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 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 $8,333,333
Remaining base salary
($12,500,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $1,388,889
(Total buyout cost/6 years)

Mike Matheson projected buyout 2023-2024 season
2023-2024 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029
Remaining Base Salary
$12,500,000
$4,000,000 $4,000,000 $4,500,000 $0 $0 $0
Original Cap Hit $4,875,000 $4,875,000 $4,875,000 $0 $0 $0
Contract Signing Bonus $2,500,000 $2,500,000 $2,000,000 $0 $0 $0
Contract Total Salary ($6,500,000) ($6,500,000) ($6,500,000) ($0) ($0) ($0)
Annual Buyout Cost $1,388,889 $1,388,889 $1,388,889 $1,388,889 $1,388,889 $1,388,889
ACTUAL CAP HIT Pittsburgh Penguins logo $2,263,889 $2,263,889 $1,763,889 $1,388,889 $1,388,889 $1,388,889
Savings $2,611,111 $2,611,111 $3,111,111 $-1,388,889 $-1,388,889 $-1,388,889

Active Contract

Signing Team Florida Panthers logo
Signing Date October 7, 2017
Signing Status RFA
Agent Kent Hughes
Standard Contract | 8 Years $39,000,000 5.98% of cap space
2018-2019 2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025 2025-2026
Cap Hit $4,875,000 $4,875,000 $4,875,000 $4,875,000 $4,875,000 $4,875,000 $4,875,000 $4,875,000
UFA
AAV $4,875,000 $4,875,000 $4,875,000 $4,875,000 $4,875,000 $4,875,000 $4,875,000 $4,875,000
Performance Bonuses $0 $0 $0 $0 $0 $0 $0 $0
Base Salary $3,000,000 $3,500,000 $3,500,000 $5,000,000 $4,000,000 $4,000,000 $4,000,000 $4,500,000
Signing Bonuses $500,000 $0 $0 $0 $0 $2,500,000 $2,500,000 $2,000,000
Total Salary $3,500,000 $3,500,000 $3,500,000 $5,000,000 $4,000,000 $6,500,000 $6,500,000 $6,500,000
Minors Salary $3,500,000 $3,500,000 $3,500,000 $5,000,000 $4,000,000 $6,500,000 $6,500,000 $6,500,000
Clauses M-NTC M-NTC M-NTC M-NTC M-NTC
UFA Year
Buy It Out Buy It Out Buy It Out Buy It Out Buy It Out
8 Team No Trade List