Radim Simek buyout calculator, cap hit impact

Radim Simek Buyout Cap Implications

Birthdate September 20, 1992

If Radim Simek was bought out prior to the 2022-2023 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 29 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 $2,733,333
Remaining base salary
($4,100,000 * 67% buyout multiplier)
.

2 years left in contract.
Buyout applied over 4 years
(2x years remaining on contract)

Annual buyout cost of $683,333
(Total buyout cost/4 years)

Radim Simek projected buyout 2022-2023 season
2022-2023 2023-2024 2024-2025 2025-2026
Remaining Base Salary
$4,100,000
$2,150,000 $1,950,000 $0 $0
Original Cap Hit $2,250,000 $2,250,000 $0 $0
Contract Signing Bonus $0 $0 $0 $0
Contract Total Salary ($2,150,000) ($1,950,000) ($0) ($0)
Annual Buyout Cost $683,333 $683,333 $683,333 $683,333
ACTUAL CAP HIT San Jose Sharks logo $783,333 $983,333 $683,333 $683,333
Savings $1,466,667 $1,266,667 $-683,333 $-683,333

Active Contract

Signing Team
Signing Date March 4, 2020
Signing Status UFA
Agent Marc Levine
Standard Contract | 4 Years $9,000,000 2.76% of cap space
2020-2021 2021-2022 2022-2023 2023-2024
Cap Hit $2,250,000 $2,250,000 $2,250,000 $2,250,000
UFA
AAV $2,250,000 $2,250,000 $2,250,000 $2,250,000
Performance Bonuses $0 $0 $0 $0
Base Salary $2,450,000 $2,450,000 $2,150,000 $1,950,000
Signing Bonuses $0 $0 $0 $0
Total Salary $2,450,000 $2,450,000 $2,150,000 $1,950,000
Minors Salary $2,450,000 $2,450,000 $2,150,000 $1,950,000
Clauses
UFA Year
Buy It Out Buy It Out Buy It Out