Phil Kessel buyout calculator, cap hit impact

Phil Kessel Buyout Cap Implications

Birthdate October 2, 1987

If Phil Kessel was bought out prior to the 2019-2020 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 31 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 $6,000,000
Remaining base salary
($9,000,000 * 67% buyout multiplier)
.

3 years left in contract.
Buyout applied over 6 years
(2x years remaining on contract)

Annual buyout cost of $1,000,000
(Total buyout cost/6 years)

This contract has retained salary from a previous trade. The buyout costs, and savings are split between the teams as shown below
Phil Kessel projected buyout 2019-2020 season
2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025
Remaining Base Salary
$9,000,000
$7,000,000 $1,000,000 $1,000,000 $0 $0 $0
Original Cap Hit $8,000,000 $8,000,000 $8,000,000 $0 $0 $0
Contract Signing Bonus $0 $5,000,000 $5,000,000 $0 $0 $0
Contract Total Salary ($7,000,000) ($6,000,000) ($6,000,000) ($0) ($0) ($0)
Annual Buyout Cost $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000
ACTUAL CAP HIT Arizona Coyotes logo $1,700,000 $6,800,000 $6,800,000 $850,000 $850,000 $850,000
Savings $5,100,000 $0 $0 $-850,000 $-850,000 $-850,000
ACTUAL CAP HIT Toronto Maple Leafs logo $300,000 $1,200,000 $1,200,000 $150,000 $150,000 $150,000
Savings $900,000 $0 $0 $-150,000 $-150,000 $-150,000

Active Contract

Signing Team
Signing Date October 1, 2013
Signing Status UFA
Agent Wade Arnott
Standard Contract | 8 Years $64,000,000 9.82% of cap space
2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022
Cap Hit $8,000,000 $8,000,000 $8,000,000 $8,000,000 $8,000,000 $8,000,000 $8,000,000 $8,000,000
UFA
AAV $8,000,000 $8,000,000 $8,000,000 $8,000,000 $8,000,000 $8,000,000 $8,000,000 $8,000,000
Performance Bonuses $0 $0 $0 $0 $0 $0 $0 $0
Base Salary $5,500,000 $6,000,000 $7,000,000 $7,000,000 $7,000,000 $7,000,000 $1,000,000 $1,000,000
Signing Bonuses $4,500,000 $4,000,000 $2,000,000 $2,000,000 $0 $0 $5,000,000 $5,000,000
Total Salary $10,000,000 $10,000,000 $9,000,000 $9,000,000 $7,000,000 $7,000,000 $6,000,000 $6,000,000
Minors Salary $10,000,000 $10,000,000 $9,000,000 $9,000,000 $7,000,000 $7,000,000 $6,000,000 $6,000,000
Clauses M-NTC
NMC
M-NTC
NMC
M-NTC
NMC
M-NTC
NMC
M-NTC
NMC
M-NTC
NMC
M-NTC
NMC
M-NTC
NMC
UFA Year
Buy It Out Buy It Out Buy It Out
* Retained 15% of contract was retained by Toronto Maple Leafs in trade to Pittsburgh Penguins