I was advocating for that this summer. The cap hit wasn't onerous at all.
A Josh Bailey buyout spans 2 years, has a cost of $2,333,333 and savings of $1,166,667. Bailey is 33 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $3,500,000 in salary remaining, the cost is $2,333,333, and the savings are $1,166,667. Buyouts span twice the length of the remaining years and because there is 1 year remaining in the contract, the buyout length is 2 years. The buyout cap hit is displayed in the Cap Hit Calculations table below.
Buyout Date
JuneJulyAugust15161718192021222324252627282930
Cost Calculations
[TABLE=collapse]
[TR]
[TH]BUYOUT DATE[/TH]
[TH]BASE SALARY REMAINING[/TH]
[TH]S.BONUS REMAINING[/TH]
[TH]YEARS REMAINING[/TH]
[TH]BUYOUT LENGTH[/TH]
[TH]AGE[/TH]
[TH]BUYOUT RATIO[/TH]
[TH]TOTAL COST[/TH]
[TH]TOTAL SAVINGS[/TH]
[TH]ANNUAL COST[/TH]
[/TR]
[TR]
[TD]Jun. 15, 2023[/TD]
[TD]$3,500,000[/TD]
[TD]$0[/TD]
[TD]1[/TD]
[TD]2[/TD]
[TD]33[/TD]
[TD]2/3[/TD]
[TD]$2,333,333[/TD]
[TD]$1,166,667[/TD]
[TD]$1,166,667[/TD]
[/TR]
[/TABLE]
Cap Hit Calculations
[TABLE=collapse]
[TR]
[TD]SEASON[/TD]
[TD]INITIAL BASE SALARY[/TD]
[TD]INITIAL CAP HIT[/TD]
[TD]SIGNING BONUS[/TD]
[TD]BUYOUT COST[/TD]
[TD]POST-BUYOUT EARNINGS[/TD]
[TD]SAVINGS[/TD]
[TD]CAP HIT (
NYI)[/TD]
[/TR]
[TR]
[TD]2023-24[/TD]
[TD]$3,500,000[/TD]
[TD]$5,000,000[/TD]
[TD]$0[/TD]
[TD]$1,166,667[/TD]
[TD]$1,166,667[/TD]
[TD]$2,333,333[/TD]
[TD]
$2,666,667[/TD]
[/TR]
[TR]
[TD]2024-25[/TD]
[TD]$0[/TD]
[TD]$0[/TD]
[TD]$0[/TD]
[TD]$1,166,667[/TD]
[TD]$1,166,667[/TD]
[TD]-$1,166,667[/TD]
[TD]
$1,166,667[/TD]
[/TR]
[TR]
[TD]TOTAL[/TD]
[TD]$3,500,000[/TD]
[TD]$5,000,000[/TD]
[TD]$0[/TD]
[TD]$2,333,333[/TD]
[TD]$2,333,333[/TD]
[TD]$1,166,667[/TD]
[TD]
$3,833,334[/TD]
[/TR]
[/TABLE]