Patrick Newell buyout calculator, cap hit impact

Patrick Newell Buyout Cap Implications

Birthdate January 18, 1996

If Patrick Newell 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 $233,333
Remaining base salary
($700,000 * 33% buyout multiplier)
.

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

Annual buyout cost of $116,667
(Total buyout cost/2 years)

Patrick Newell projected buyout 2020-2021 season
2020-2021 2021-2022
Remaining Base Salary
$700,000
$700,000 $0
Original Cap Hit $792,500 $0
Contract Signing Bonus $92,500 $0
Contract Total Salary ($792,500) ($0)
Annual Buyout Cost $116,667 $116,667
ACTUAL CAP HIT New York Rangers logo $209,167 $116,667
Savings $583,333 $-116,667

Active Contract

Signing Team
Signing Date March 30, 2019
Agent Michael O'Rafferty
Entry Level Contract | 2 Years $1,585,000 0.97% of cap space
2019-2020 2020-2021
Cap Hit $792,500 $792,500
RFA
AAV $925,000 $925,000
Performance Bonuses $132,500 $132,500
Base Salary $700,000 $700,000
Signing Bonuses $92,500 $92,500
Total Salary $792,500 $792,500
Minors Salary $70,000 $70,000
Clauses
UFA Year
Buy It Out