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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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Brad Richards is 33 years old on the buyout date of July 20, 2013, setting the buyout ratio at 2/3 and the total buyout cost at $17,333,333, in addition to $10,000,000 in signing bonuses, spread over 14 years. His contract was originally valued at $60,000,000 beginning in 2011 and ending in 2020, with $26,000,000 remaining from the buyout year forward (which does not include $10,000,000 in remaining signing bonuses that are paid regardless of buyout). 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
2013-14 $7,000,000 $6,666,667 $1,238,095 $5,761,905 $904,762
2014-15 $6,500,000 $6,666,667 $1,238,095 $5,261,905 $1,404,762
2015-16 $6,500,000 $6,666,667 $1,238,095 $5,261,905 $1,404,762
2016-17 $3,000,000 $6,666,667 $1,238,095 $1,761,905 $4,904,762
2017-18 $1,000,000 $6,666,667 $1,238,095 -$238,095 $6,904,762
2018-19 $1,000,000 $6,666,667 $1,238,095 -$238,095 $6,904,762
2019-20 $1,000,000 $6,666,667 $1,238,095 -$238,095 $6,904,762
2020-21 $0 $0 $1,238,095 -$1,238,095 $1,238,095
2021-22 $0 $0 $1,238,095 -$1,238,095 $1,238,095
2022-23 $0 $0 $1,238,095 -$1,238,095 $1,238,095
2023-24 $0 $0 $1,238,095 -$1,238,095 $1,238,095
2024-25 $0 $0 $1,238,095 -$1,238,095 $1,238,095
2025-26 $0 $0 $1,238,095 -$1,238,095 $1,238,095
2026-27 $0 $0 $1,238,095 -$1,238,095 $1,238,095

NOTE: Brad Richards receives an additional $10,000,000 in signing bonuses as per the schedule outlined in his contract. These signing bonuses are not included in the above "salary" and "buyout" columns. For more information, see "How do buyouts work?" in our FAQ.

TEXT CAP HIT BREAKDOWN (for copying and pasting)

Brad Richards buyout from CapGeek.com

  • 2013-14: $904,762
  • 2014-15: $1,404,762
  • 2015-16: $1,404,762
  • 2016-17: $4,904,762
  • 2017-18: $6,904,762
  • 2018-19: $6,904,762
  • 2019-20: $6,904,762
  • 2020-21: $1,238,095
  • 2021-22: $1,238,095
  • 2022-23: $1,238,095
  • 2023-24: $1,238,095
  • 2024-25: $1,238,095
  • 2025-26: $1,238,095
  • 2026-27: $1,238,095