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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 37 years old on the buyout date of June 29, 2017, setting the buyout ratio at 2/3 and the total buyout cost at $2,000,000 spread over 6 years. His contract was originally valued at $60,000,000 beginning in 2011 and ending in 2020, with $3,000,000 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
2017-18 $1,000,000 $6,666,667 $333,333 $666,667 $6,000,000
2018-19 $1,000,000 $6,666,667 $333,333 $666,667 $6,000,000
2019-20 $1,000,000 $6,666,667 $333,333 $666,667 $6,000,000
2020-21 $0 $0 $333,333 -$333,333 $333,333
2021-22 $0 $0 $333,333 -$333,333 $333,333
2022-23 $0 $0 $333,333 -$333,333 $333,333

TEXT CAP HIT BREAKDOWN (for copying and pasting)

Brad Richards buyout from CapGeek.com

  • 2017-18: $6,000,000
  • 2018-19: $6,000,000
  • 2019-20: $6,000,000
  • 2020-21: $333,333
  • 2021-22: $333,333
  • 2022-23: $333,333