Milan Lucic buyout calculator, cap hit impact

Milan Lucic Buyout Cap Implications

Birthdate June 7, 1988

If Milan Lucic was bought out prior to the 2021-2022 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 32 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 $2,333,333
Remaining base salary
($3,500,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $583,333
(Total buyout cost/4 years)

This contract has retained salary from a previous trade. The buyout costs, and savings are split between the teams as shown below
Milan Lucic projected buyout 2021-2022 season
2021-2022 2022-2023 2023-2024 2024-2025
Remaining Base Salary
$3,500,000
$2,500,000 $1,000,000 $0 $0
Original Cap Hit $6,000,000 $6,000,000 $0 $0
Contract Signing Bonus $2,500,000 $3,000,000 $0 $0
Contract Total Salary ($5,000,000) ($4,000,000) ($0) ($0)
Annual Buyout Cost $583,333 $583,333 $583,333 $583,333
ACTUAL CAP HIT Calgary Flames logo $3,572,917 $4,885,417 $510,417 $510,417
Savings $1,677,083 $364,583 $-510,417 $-510,417
ACTUAL CAP HIT Edmonton Oilers logo $510,417 $697,917 $72,917 $72,917
Savings $239,583 $52,083 $-72,917 $-72,917

Active Contract

Signing Team
Signing Date July 1, 2016
Signing Status UFA
Agent Gerry Johannson
View Player Profile
Potential Lockout Year
Standard Contract | 7 Years $42,000,000 7.36% of cap space
2016-2017 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 2022-2023
Cap Hit $6,000,000 $6,000,000 $6,000,000 $6,000,000 $6,000,000 $6,000,000 $6,000,000
UFA
AAV $6,000,000 $6,000,000 $6,000,000 $6,000,000 $6,000,000 $6,000,000 $6,000,000
Performance Bonuses $0 $0 $0 $0 $0 $0 $0
Base Salary $4,000,000 $4,000,000 $3,500,000 $3,000,000 $1,000,000 $2,500,000 $1,000,000
Signing Bonuses $4,000,000 $4,000,000 $3,500,000 $3,000,000 $3,000,000 $2,500,000 $3,000,000
Total Salary $8,000,000 $8,000,000 $7,000,000 $6,000,000 $4,000,000 $5,000,000 $4,000,000
Minors Salary $8,000,000 $8,000,000 $7,000,000 $6,000,000 $4,000,000 $5,000,000 $4,000,000
Clauses NMC NMC NMC NMC NMC M-NTC
NMC
M-NTC
NMC
UFA Year
Buy It Out Buy It Out Buy It Out Buy It Out
* Retained 12.5% of contract was retained by Edmonton Oilers in trade to Calgary Flames