Thomas Hickey buyout calculator, cap hit impact

Thomas Hickey Buyout Cap Implications

Birthdate February 8, 1989

If Thomas Hickey 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 30 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 $4,166,667
Remaining base salary
($6,250,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $694,444
(Total buyout cost/6 years)

Thomas Hickey projected buyout 2019-2020 season
2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025
Remaining Base Salary
$6,250,000
$2,500,000 $1,250,000 $2,500,000 $0 $0 $0
Original Cap Hit $2,500,000 $2,500,000 $2,500,000 $0 $0 $0
Contract Signing Bonus $0 $1,250,000 $0 $0 $0 $0
Contract Total Salary ($2,500,000) ($2,500,000) ($2,500,000) ($0) ($0) ($0)
Annual Buyout Cost $694,444 $694,444 $694,444 $694,444 $694,444 $694,444
ACTUAL CAP HIT New York Islanders logo $694,444 $1,944,444 $694,444 $694,444 $694,444 $694,444
Savings $1,805,556 $555,556 $1,805,556 $-694,444 $-694,444 $-694,444

Active Contract

Signing Team
Signing Date July 1, 2018
Signing Status UFA
Agent Kevin Epp
Standard Contract | 4 Years $10,000,000 3.07% of cap space
2018-2019 2019-2020 2020-2021 2021-2022
Cap Hit $2,500,000 $2,500,000 $2,500,000 $2,500,000
UFA
AAV $2,500,000 $2,500,000 $2,500,000 $2,500,000
Performance Bonuses $0 $0 $0 $0
Base Salary $2,500,000 $2,500,000 $1,250,000 $2,500,000
Signing Bonuses $0 $0 $1,250,000 $0
Total Salary $2,500,000 $2,500,000 $2,500,000 $2,500,000
Minors Salary $2,500,000 $2,500,000 $2,500,000 $2,500,000
Clauses
UFA Year
Buy It Out Buy It Out