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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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Roberto Luongo is 35 years old on the buyout date of July 23, 2014, setting the buyout ratio at 2/3 and the total buyout cost at $22,570,667 spread over 16 years. His contract was originally valued at $64,000,000 beginning in 2010 and ending in 2022, with $33,856,000 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 $6,714,000 $5,333,333 $1,410,667 $5,303,333 $30,000
2015-16 $6,714,000 $5,333,333 $1,410,667 $5,303,333 $30,000
2016-17 $6,714,000 $5,333,333 $1,410,667 $5,303,333 $30,000
2017-18 $6,714,000 $5,333,333 $1,410,667 $5,303,333 $30,000
2018-19 $3,382,000 $5,333,333 $1,410,667 $1,971,333 $3,362,000
2019-20 $1,618,000 $5,333,333 $1,410,667 $207,333 $5,126,000
2020-21 $1,000,000 $5,333,333 $1,410,667 -$410,667 $5,744,000
2021-22 $1,000,000 $5,333,333 $1,410,667 -$410,667 $5,744,000
2022-23 $0 $0 $1,410,667 -$1,410,667 $1,410,667
2023-24 $0 $0 $1,410,667 -$1,410,667 $1,410,667
2024-25 $0 $0 $1,410,667 -$1,410,667 $1,410,667
2025-26 $0 $0 $1,410,667 -$1,410,667 $1,410,667
2026-27 $0 $0 $1,410,667 -$1,410,667 $1,410,667
2027-28 $0 $0 $1,410,667 -$1,410,667 $1,410,667
2028-29 $0 $0 $1,410,667 -$1,410,667 $1,410,667
2029-30 $0 $0 $1,410,667 -$1,410,667 $1,410,667

TEXT CAP HIT BREAKDOWN (for copying and pasting)

Roberto Luongo buyout from CapGeek.com

  • 2014-15: $30,000
  • 2015-16: $30,000
  • 2016-17: $30,000
  • 2017-18: $30,000
  • 2018-19: $3,362,000
  • 2019-20: $5,126,000
  • 2020-21: $5,744,000
  • 2021-22: $5,744,000
  • 2022-23: $1,410,667
  • 2023-24: $1,410,667
  • 2024-25: $1,410,667
  • 2025-26: $1,410,667
  • 2026-27: $1,410,667
  • 2027-28: $1,410,667
  • 2028-29: $1,410,667
  • 2029-30: $1,410,667