Nate Schmidt buyout calculator, cap hit impact

Nate Schmidt Buyout Cap Implications

Birthdate July 16, 1991

If Nate Schmidt 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 28 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 $17,933,333
Remaining base salary
($26,900,000 * 67% buyout multiplier)
.

5 years left in contract.
Buyout applied over 10 years
(2x years remaining on contract)

Annual buyout cost of $1,793,333
(Total buyout cost/10 years)

Nate Schmidt projected buyout 2020-2021 season
2020-2021 2021-2022 2022-2023 2023-2024 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2030
Remaining Base Salary
$26,900,000
$6,100,000 $6,000,000 $5,000,000 $4,950,000 $4,850,000 $0 $0 $0 $0 $0
Original Cap Hit $5,950,000 $5,950,000 $5,950,000 $5,950,000 $5,950,000 $0 $0 $0 $0 $0
Contract Signing Bonus $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Contract Total Salary ($6,100,000) ($6,000,000) ($5,000,000) ($4,950,000) ($4,850,000) ($0) ($0) ($0) ($0) ($0)
Annual Buyout Cost $1,793,333 $1,793,333 $1,793,333 $1,793,333 $1,793,333 $1,793,333 $1,793,333 $1,793,333 $1,793,333 $1,793,333
ACTUAL CAP HIT Vancouver Canucks logo $1,643,333 $1,743,333 $2,743,333 $2,793,333 $2,893,333 $1,793,333 $1,793,333 $1,793,333 $1,793,333 $1,793,333
Savings $4,306,667 $4,206,667 $3,206,667 $3,156,667 $3,056,667 $-1,793,333 $-1,793,333 $-1,793,333 $-1,793,333 $-1,793,333

Active Contract

Signing Team
Signing Date October 24, 2018
Signing Status UFA
Agent Matt Keator
Standard Contract | 6 Years $35,700,000 7.30% of cap space
2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025
Cap Hit $5,950,000 $5,950,000 $5,950,000 $5,950,000 $5,950,000 $5,950,000
UFA
AAV $5,950,000 $5,950,000 $5,950,000 $5,950,000 $5,950,000 $5,950,000
Performance Bonuses $0 $0 $0 $0 $0 $0
Base Salary $6,800,000 $6,100,000 $6,000,000 $5,000,000 $4,950,000 $4,850,000
Signing Bonuses $2,000,000 $0 $0 $0 $0 $0
Total Salary $8,800,000 $6,100,000 $6,000,000 $5,000,000 $4,950,000 $4,850,000
Minors Salary $8,800,000 $6,100,000 $6,000,000 $5,000,000 $4,950,000 $4,850,000
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
10 Team No Trade List