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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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Alex Ovechkin is 28 years old on the buyout date of July 31, 2014, setting the buyout ratio at 2/3 and the total buyout cost at $46,666,667 spread over 14 years. His contract was originally valued at $124,000,000 beginning in 2008 and ending in 2021, with $70,000,000 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
2014-15 $10,000,000 $9,538,462 $3,333,333 $6,666,667 $2,871,795
2015-16 $10,000,000 $9,538,462 $3,333,333 $6,666,667 $2,871,795
2016-17 $10,000,000 $9,538,462 $3,333,333 $6,666,667 $2,871,795
2017-18 $10,000,000 $9,538,462 $3,333,333 $6,666,667 $2,871,795
2018-19 $10,000,000 $9,538,462 $3,333,333 $6,666,667 $2,871,795
2019-20 $10,000,000 $9,538,462 $3,333,333 $6,666,667 $2,871,795
2020-21 $10,000,000 $9,538,462 $3,333,333 $6,666,667 $2,871,795
2021-22 $0 $0 $3,333,333 -$3,333,333 $3,333,333
2022-23 $0 $0 $3,333,333 -$3,333,333 $3,333,333
2023-24 $0 $0 $3,333,333 -$3,333,333 $3,333,333
2024-25 $0 $0 $3,333,333 -$3,333,333 $3,333,333
2025-26 $0 $0 $3,333,333 -$3,333,333 $3,333,333
2026-27 $0 $0 $3,333,333 -$3,333,333 $3,333,333
2027-28 $0 $0 $3,333,333 -$3,333,333 $3,333,333

TEXT CAP HIT BREAKDOWN (for copying and pasting)

Alex Ovechkin buyout from CapGeek.com

  • 2014-15: $2,871,795
  • 2015-16: $2,871,795
  • 2016-17: $2,871,795
  • 2017-18: $2,871,795
  • 2018-19: $2,871,795
  • 2019-20: $2,871,795
  • 2020-21: $2,871,795
  • 2021-22: $3,333,333
  • 2022-23: $3,333,333
  • 2023-24: $3,333,333
  • 2024-25: $3,333,333
  • 2025-26: $3,333,333
  • 2026-27: $3,333,333
  • 2027-28: $3,333,333