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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 34 years old on the buyout date of June 28, 2013, setting the buyout ratio at 2/3 and the total buyout cost at $27,046,667 spread over 18 years. His contract was originally valued at $64,000,000 beginning in 2010 and ending in 2022, with $40,570,000 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
2013-14 $6,714,000 $5,333,333 $1,502,593 $5,211,407 $121,926
2014-15 $6,714,000 $5,333,333 $1,502,593 $5,211,407 $121,926
2015-16 $6,714,000 $5,333,333 $1,502,593 $5,211,407 $121,926
2016-17 $6,714,000 $5,333,333 $1,502,593 $5,211,407 $121,926
2017-18 $6,714,000 $5,333,333 $1,502,593 $5,211,407 $121,926
2018-19 $3,382,000 $5,333,333 $1,502,593 $1,879,407 $3,453,926
2019-20 $1,618,000 $5,333,333 $1,502,593 $115,407 $5,217,926
2020-21 $1,000,000 $5,333,333 $1,502,593 -$502,593 $5,835,926
2021-22 $1,000,000 $5,333,333 $1,502,593 -$502,593 $5,835,926
2022-23 $0 $0 $1,502,593 -$1,502,593 $1,502,593
2023-24 $0 $0 $1,502,593 -$1,502,593 $1,502,593
2024-25 $0 $0 $1,502,593 -$1,502,593 $1,502,593
2025-26 $0 $0 $1,502,593 -$1,502,593 $1,502,593
2026-27 $0 $0 $1,502,593 -$1,502,593 $1,502,593
2027-28 $0 $0 $1,502,593 -$1,502,593 $1,502,593
2028-29 $0 $0 $1,502,593 -$1,502,593 $1,502,593
2029-30 $0 $0 $1,502,593 -$1,502,593 $1,502,593
2030-31 $0 $0 $1,502,593 -$1,502,593 $1,502,593

TEXT CAP HIT BREAKDOWN (for copying and pasting)

Roberto Luongo buyout from CapGeek.com

  • 2013-14: $121,926
  • 2014-15: $121,926
  • 2015-16: $121,926
  • 2016-17: $121,926
  • 2017-18: $121,926
  • 2018-19: $3,453,926
  • 2019-20: $5,217,926
  • 2020-21: $5,835,926
  • 2021-22: $5,835,926
  • 2022-23: $1,502,593
  • 2023-24: $1,502,593
  • 2024-25: $1,502,593
  • 2025-26: $1,502,593
  • 2026-27: $1,502,593
  • 2027-28: $1,502,593
  • 2028-29: $1,502,593
  • 2029-30: $1,502,593
  • 2030-31: $1,502,593