Miles Wood buyout calculator, cap hit impact

Miles Wood Buyout Cap Implications

Birthdate September 13, 1995

If Miles Wood was bought out prior to the 2022-2023 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 27 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 $10,000,000
Remaining base salary
($15,000,000 * 67% buyout multiplier)
.

6 years left in contract.
Buyout applied over 12 years
(2x years remaining on contract)

Annual buyout cost of $833,333
(Total buyout cost/12 years)

Miles Wood projected buyout 2022-2023 season
2023-2024 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2030 2030-2031 2031-2032 2032-2033 2033-2034 2034-2035
Remaining Base Salary
$15,000,000
$3,250,000 $3,250,000 $2,500,000 $2,000,000 $2,000,000 $2,000,000 $0 $0 $0 $0 $0 $0
Original Cap Hit $2,500,000 $2,500,000 $2,500,000 $2,500,000 $2,500,000 $2,500,000 $0 $0 $0 $0 $0 $0
Contract Signing Bonus $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Contract Total Salary ($3,250,000) ($3,250,000) ($2,500,000) ($2,000,000) ($2,000,000) ($2,000,000) ($0) ($0) ($0) ($0) ($0) ($0)
Annual Buyout Cost $833,333 $833,333 $833,333 $833,333 $833,333 $833,333 $833,333 $833,333 $833,333 $833,333 $833,333 $833,333
ACTUAL CAP HIT Colorado Avalanche logo $83,333 $83,333 $833,333 $1,333,333 $1,333,333 $1,333,333 $833,333 $833,333 $833,333 $833,333 $833,333 $833,333
Savings $2,416,667 $2,416,667 $1,666,667 $1,166,667 $1,166,667 $1,166,667 $-833,333 $-833,333 $-833,333 $-833,333 $-833,333 $-833,333

Active Contract

Signing Team Colorado Avalanche logo
Signing Date July 1, 2023
Signing Status UFA
Agent Peter Fish
View Player Profile
Potential Lockout Year
Standard Contract | 6 Years $15,000,000 2.99% of cap space
2023-2024 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029
Cap Hit $2,500,000 $2,500,000 $2,500,000 $2,500,000 $2,500,000 $2,500,000
UFA
AAV $2,500,000 $2,500,000 $2,500,000 $2,500,000 $2,500,000 $2,500,000
Performance Bonuses $0 $0 $0 $0 $0 $0
Base Salary $3,250,000 $3,250,000 $2,500,000 $2,000,000 $2,000,000 $2,000,000
Signing Bonuses $0 $0 $0 $0 $0 $0
Total Salary $3,250,000 $3,250,000 $2,500,000 $2,000,000 $2,000,000 $2,000,000
Minors Salary $3,250,000 $3,250,000 $2,500,000 $2,000,000 $2,000,000 $2,000,000
Clauses M-NTC 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 Buy It Out
6 Team No Trade List; commences June 15, 2024