Reid Schaefer buyout calculator, cap hit impact

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Reid Schaefer Buyout Cap Implications

Birthdate September 21, 2003

If Reid Schaefer 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 18 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 $855,000
Remaining base salary
($2,565,000 * 33% buyout multiplier)
.

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

Annual buyout cost of $142,500
(Total buyout cost/6 years)

Reid Schaefer projected buyout 2022-2023 season
2022-2023 2023-2024 2024-2025 2025-2026 2026-2027 2027-2028
Remaining Base Salary
$2,565,000
$855,000 $855,000 $855,000 $0 $0 $0
Original Cap Hit $950,000 $950,000 $950,000 $0 $0 $0
Contract Signing Bonus $95,000 $95,000 $95,000 $0 $0 $0
Contract Total Salary ($950,000) ($950,000) ($950,000) ($0) ($0) ($0)
Annual Buyout Cost $142,500 $142,500 $142,500 $142,500 $142,500 $142,500
ACTUAL CAP HIT Edmonton Oilers logo $237,500 $237,500 $237,500 $142,500 $142,500 $142,500
Savings $712,500 $712,500 $712,500 $-142,500 $-142,500 $-142,500

Active Contract

Signing Team Edmonton Oilers logo
Signing Date July 16, 2022
Agent Eustace King
Entry Level Contract | 3 Years $2,850,000 1.15% of cap space
2022-2023 2023-2024 2024-2025
Cap Hit $950,000 $950,000 $950,000
RFA
AAV $950,000 $950,000 $950,000
Performance Bonuses $0 $0 $0
Base Salary $855,000 $855,000 $855,000
Signing Bonuses $95,000 $95,000 $95,000
Total Salary $950,000 $950,000 $950,000
Minors Salary $82,500 $82,500 $82,500
Clauses
UFA Year
Buy It Out Buy It Out Buy It Out