Turner Elson buyout calculator, cap hit impact

Turner Elson Buyout Cap Implications

Birthdate September 13, 1992

If Turner Elson was bought out prior to the 2020-2021 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 27 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 $483,333
Remaining base salary
($725,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $241,667
(Total buyout cost/2 years)

Turner Elson projected buyout 2020-2021 season
2020-2021 2021-2022
Remaining Base Salary
$725,000
$725,000 $0
Original Cap Hit $725,000 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($725,000) ($0)
Annual Buyout Cost $241,667 $241,667
ACTUAL CAP HIT Detroit Red Wings logo $241,667 $241,667
Savings $483,333 $-241,667

Active Contract

Signing Team
Signing Date September 25, 2020
Signing Status UFA
Agent Jason Davidson
Standard Contract | 1 Years $725,000 0.89% of cap space
2020-2021
Cap Hit $725,000
UFA
AAV $725,000
Performance Bonuses $0
Base Salary $725,000
Signing Bonuses $0
Total Salary $725,000
Minors Salary $115,000
Clauses
UFA Year
Buy It Out