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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 36 years old on the buyout date of June 15, 2015, setting the buyout ratio at 2/3 and the total buyout cost at $18,094,667 spread over 14 years. His contract was originally valued at $64,000,000 beginning in 2010 and ending in 2022, with $27,142,000 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
2015-16 $6,714,000 $5,333,333 $1,292,476 $5,421,524 -$88,190
2016-17 $6,714,000 $5,333,333 $1,292,476 $5,421,524 -$88,190
2017-18 $6,714,000 $5,333,333 $1,292,476 $5,421,524 -$88,190
2018-19 $3,382,000 $5,333,333 $1,292,476 $2,089,524 $3,243,810
2019-20 $1,618,000 $5,333,333 $1,292,476 $325,524 $5,007,810
2020-21 $1,000,000 $5,333,333 $1,292,476 -$292,476 $5,625,810
2021-22 $1,000,000 $5,333,333 $1,292,476 -$292,476 $5,625,810
2022-23 $0 $0 $1,292,476 -$1,292,476 $1,292,476
2023-24 $0 $0 $1,292,476 -$1,292,476 $1,292,476
2024-25 $0 $0 $1,292,476 -$1,292,476 $1,292,476
2025-26 $0 $0 $1,292,476 -$1,292,476 $1,292,476
2026-27 $0 $0 $1,292,476 -$1,292,476 $1,292,476
2027-28 $0 $0 $1,292,476 -$1,292,476 $1,292,476
2028-29 $0 $0 $1,292,476 -$1,292,476 $1,292,476

TEXT CAP HIT BREAKDOWN (for copying and pasting)

Roberto Luongo buyout from CapGeek.com

  • 2015-16: -$88,190
  • 2016-17: -$88,190
  • 2017-18: -$88,190
  • 2018-19: $3,243,810
  • 2019-20: $5,007,810
  • 2020-21: $5,625,810
  • 2021-22: $5,625,810
  • 2022-23: $1,292,476
  • 2023-24: $1,292,476
  • 2024-25: $1,292,476
  • 2025-26: $1,292,476
  • 2026-27: $1,292,476
  • 2027-28: $1,292,476
  • 2028-29: $1,292,476