Steven Lorentz buyout calculator, cap hit impact

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Steven Lorentz Buyout Cap Implications

Birthdate April 13, 1996

If Steven Lorentz 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 26 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 $1,400,000
Remaining base salary
($2,100,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $350,000
(Total buyout cost/4 years)

Steven Lorentz projected buyout 2022-2023 season
2022-2023 2023-2024 2024-2025 2025-2026
Remaining Base Salary
$2,100,000
$950,000 $1,150,000 $0 $0
Original Cap Hit $1,050,000 $1,050,000 $0 $0
Contract Signing Bonus $0 $0 $0 $0
Contract Total Salary ($950,000) ($1,150,000) ($0) ($0)
Annual Buyout Cost $350,000 $350,000 $350,000 $350,000
ACTUAL CAP HIT San Jose Sharks logo $450,000 $250,000 $350,000 $350,000
Savings $600,000 $800,000 $-350,000 $-350,000

Active Contract

Signing Team San Jose Sharks logo
Signing Date July 22, 2022
Signing Status RFA
Agent Robert Hooper
Standard Contract | 2 Years $2,100,000 1.27% of cap space
2022-2023 2023-2024
Cap Hit $1,050,000 $1,050,000
UFA
AAV $1,050,000 $1,050,000
Performance Bonuses $0 $0
Base Salary $950,000 $1,150,000
Signing Bonuses $0 $0
Total Salary $950,000 $1,150,000
Minors Salary $950,000 $1,150,000
Clauses
UFA Year
Buy It Out Buy It Out