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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 34 years old on the buyout date of June 15, 2014, setting the buyout ratio at 2/3 and the total buyout cost at $12,666,667, in addition to $8,000,000 in signing bonuses, spread over 12 years. His contract was originally valued at $60,000,000 beginning in 2011 and ending in 2020, with $19,000,000 remaining from the buyout year forward (which does not include $8,000,000 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
2014-15 $6,500,000 $6,666,667 $1,055,556 $5,444,444 $1,222,222
2015-16 $6,500,000 $6,666,667 $1,055,556 $5,444,444 $1,222,222
2016-17 $3,000,000 $6,666,667 $1,055,556 $1,944,444 $4,722,222
2017-18 $1,000,000 $6,666,667 $1,055,556 -$55,556 $6,722,222
2018-19 $1,000,000 $6,666,667 $1,055,556 -$55,556 $6,722,222
2019-20 $1,000,000 $6,666,667 $1,055,556 -$55,556 $6,722,222
2020-21 $0 $0 $1,055,556 -$1,055,556 $1,055,556
2021-22 $0 $0 $1,055,556 -$1,055,556 $1,055,556
2022-23 $0 $0 $1,055,556 -$1,055,556 $1,055,556
2023-24 $0 $0 $1,055,556 -$1,055,556 $1,055,556
2024-25 $0 $0 $1,055,556 -$1,055,556 $1,055,556
2025-26 $0 $0 $1,055,556 -$1,055,556 $1,055,556

NOTE: Brad Richards receives an additional $8,000,000 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

  • 2014-15: $1,222,222
  • 2015-16: $1,222,222
  • 2016-17: $4,722,222
  • 2017-18: $6,722,222
  • 2018-19: $6,722,222
  • 2019-20: $6,722,222
  • 2020-21: $1,055,556
  • 2021-22: $1,055,556
  • 2022-23: $1,055,556
  • 2023-24: $1,055,556
  • 2024-25: $1,055,556
  • 2025-26: $1,055,556