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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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Dan Girardi is 31 years old on the buyout date of June 15, 2015, setting the buyout ratio at 2/3 and the total buyout cost at $14,000,000, in addition to $5,000,000 in signing bonuses, spread over 10 years. His contract was originally valued at $33,000,000 beginning in 2014 and ending in 2020, with $21,000,000 remaining from the buyout year forward (which does not include $5,000,000 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
2015-16 $6,000,000 $5,500,000 $1,400,000 $4,600,000 $900,000
2016-17 $5,000,000 $5,500,000 $1,400,000 $3,600,000 $1,900,000
2017-18 $4,000,000 $5,500,000 $1,400,000 $2,600,000 $2,900,000
2018-19 $3,000,000 $5,500,000 $1,400,000 $1,600,000 $3,900,000
2019-20 $3,000,000 $5,500,000 $1,400,000 $1,600,000 $3,900,000
2020-21 $0 $0 $1,400,000 -$1,400,000 $1,400,000
2021-22 $0 $0 $1,400,000 -$1,400,000 $1,400,000
2022-23 $0 $0 $1,400,000 -$1,400,000 $1,400,000
2023-24 $0 $0 $1,400,000 -$1,400,000 $1,400,000
2024-25 $0 $0 $1,400,000 -$1,400,000 $1,400,000

NOTE: Dan Girardi receives an additional $5,000,000 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)

DanĀ Girardi buyout from CapGeek.com

  • 2015-16: $900,000
  • 2016-17: $1,900,000
  • 2017-18: $2,900,000
  • 2018-19: $3,900,000
  • 2019-20: $3,900,000
  • 2020-21: $1,400,000
  • 2021-22: $1,400,000
  • 2022-23: $1,400,000
  • 2023-24: $1,400,000
  • 2024-25: $1,400,000