Mitch Eliot buyout calculator, cap hit impact

Mitch Eliot Buyout Cap Implications

Birthdate February 6, 1998

If Mitch Eliot 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)

Mitch Eliot projected buyout 2020-2021 season
2020-2021 2021-2022
Remaining Base Salary
$832,500
$832,500 $0
Original Cap Hit $822,500 $0
Contract Signing Bonus $92,500 $0
Contract Total Salary ($925,000) ($0)
Annual Buyout Cost $138,750 $138,750
ACTUAL CAP HIT Vancouver Canucks logo $128,750 $138,750
Savings $693,750 $-138,750

Active Contract

Signing Team
Signing Date December 14, 2018
Agent Mark Guy
Entry Level Contract | 3 Years $2,467,500 1.01% of cap space
2018-2019 2019-2020 2020-2021
Cap Hit $822,500 $822,500 $822,500
RFA
AAV $850,000 $850,000 $850,000
Performance Bonuses $0 $82,500 $0
Base Salary $650,000 $750,000 $832,500
Signing Bonuses $50,000 $92,500 $92,500
Total Salary $700,000 $842,500 $925,000
Minors Salary $70,000 $70,000 $70,000
Clauses
UFA Year
Buy It Out