Nick Ritchie buyout calculator, cap hit impact
Nick Ritchie Buyout Cap Implications
Birthdate December 5, 1995
If Nick Ritchie 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 24 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 $666,667
Remaining base salary
($2,000,000 * 33% buyout multiplier).
1 years left in contract.
Buyout applied over 2 years
(2x years remaining on contract)
Annual buyout cost of $333,333
(Total buyout cost/2 years)
Nick Ritchie projected buyout 2020-2021 season
2020-2021
2021-2022
Remaining Base Salary
$2,000,000
$2,000,000
$0
Original Cap Hit
$1,498,925
$0
Contract Signing Bonus
$0
$0
Contract Total Salary
($2,000,000)
($0)
Annual Buyout Cost
$333,333
$333,333
ACTUAL CAP HIT 
$-167,742
$333,333
Savings
$1,666,667
$-333,333
Birthdate December 5, 1995
If Nick Ritchie 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 24 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 $666,667
Remaining base salary
($2,000,000 * 33% buyout multiplier).
1 years left in contract.
Buyout applied over 2 years
(2x years remaining on contract)
Annual buyout cost of $333,333
(Total buyout cost/2 years)
Nick Ritchie projected buyout 2020-2021 season
| 2020-2021 | 2021-2022 | |
|---|---|---|
| Remaining Base Salary $2,000,000 |
$2,000,000 | $0 |
| Original Cap Hit | $1,498,925 | $0 |
| Contract Signing Bonus | $0 | $0 |
| Contract Total Salary | ($2,000,000) | ($0) |
| Annual Buyout Cost | $333,333 | $333,333 |
| ACTUAL CAP HIT
|
$-167,742 | $333,333 |
| Savings | $1,666,667 | $-333,333 |