Patrick Giles buyout calculator, cap hit impact

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Patrick Giles Buyout Cap Implications

Birthdate January 3, 2000

If Patrick Giles was bought out prior to the 2023-2024 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 23 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 $258,333
Remaining base salary
($775,000 * 33% buyout multiplier)
.

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

Annual buyout cost of $129,167
(Total buyout cost/2 years)

Patrick Giles projected buyout 2023-2024 season
2023-2024 2024-2025
Remaining Base Salary
$775,000
$775,000 $0
Original Cap Hit $812,500 $0
Contract Signing Bonus $50,000 $0
Contract Total Salary ($825,000) ($0)
Annual Buyout Cost $129,167 $129,167
ACTUAL CAP HIT Florida Panthers logo $166,667 $129,167
Savings $645,833 $-129,167

Active Contract

Signing Team Florida Panthers logo
Signing Date September 20, 2022
Agent Shawn Hunwick
Entry Level Contract | 2 Years $1,625,000 0.98% of cap space
2022-2023 2023-2024
Cap Hit $812,500 $812,500
RFA
AAV $812,500 $812,500
Performance Bonuses $0 $0
Base Salary $750,000 $775,000
Signing Bonuses $50,000 $50,000
Total Salary $800,000 $825,000
Minors Salary $82,500 $82,500
Clauses
UFA Year
Buy It Out Buy It Out