Wayne Simmonds buyout calculator, cap hit impact

Wayne Simmonds Buyout Cap Implications

Birthdate August 26, 1988

If Wayne Simmonds 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 $3,333,333
Remaining base salary
($5,000,000 * 67% buyout multiplier)
.

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

Annual buyout cost of $1,666,667
(Total buyout cost/2 years)

This contract has retained salary from a previous trade. The buyout costs, and savings are split between the teams as shown below
Wayne Simmonds projected buyout 2019-2020 season
2019-2020 2020-2021
Remaining Base Salary
$5,000,000
$5,000,000 $0
Original Cap Hit $5,000,000 $0
Contract Signing Bonus $0 $0
Contract Total Salary ($5,000,000) ($0)
Annual Buyout Cost $1,666,667 $1,666,667
ACTUAL CAP HIT Buffalo Sabres logo $833,333 $833,333
Savings $1,666,667 $-833,333
ACTUAL CAP HIT New Jersey Devils logo $833,333 $833,333
Savings $1,666,667 $-833,333

Active Contract

Signing Team
Signing Date July 1, 2019
Signing Status UFA
Agent Eustace King
Standard Contract | 1 Years $5,000,000 6.13% of cap space
2019-2020
Cap Hit $5,000,000
UFA
AAV $5,000,000
Performance Bonuses $0
Base Salary $5,000,000
Signing Bonuses $0
Total Salary $5,000,000
Minors Salary $5,000,000
Clauses
UFA Year
Buy It Out
* Retained 50% of contract was retained by New Jersey Devils in trade to Buffalo Sabres