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Teams have the ability to buy out contracts at a reduced cap hit from June 15 to 30 each year. They are also allowed two compliance buyouts in June 2013 and June 2014 that cost the team actual cash but have no salary cap consequences. CapGeek.com's buyout calculator simplifies the complicated formula by determining the actual salary and cap costs of these buyouts with a few clicks.

Buyout Parameters

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Erik Cole is 35 years old on the buyout date of July 30, 2014, setting the buyout ratio at 2/3 and the total buyout cost at $2,666,667 spread over 2 years. His contract was originally valued at $18,000,000 beginning in 2011 and ending in 2015, with $4,000,000 remaining from the buyout year forward. The following is a season-by-season breakdown of the buyout. A negative buyout cap hit indicates a credit.


Buyout Details

SEASON SALARY CAP HIT BUYOUT SAVINGS BUYOUT CAP HIT
2014-15 $4,000,000 $4,500,000 $1,333,333 $2,666,667 $1,833,333
2015-16 $0 $0 $1,333,333 -$1,333,333 $1,333,333

TEXT CAP HIT BREAKDOWN (for copying and pasting)

Erik Cole buyout from CapGeek.com

  • 2014-15: $1,833,333
  • 2015-16: $1,333,333