I'm a little confused on the buyout cost to the Canes...capfriendly says $833K?
2/3 of $4.25m is $2.8m?
Bonus gets paid no matter what and doesn't factor into the buyout amount.
Got it. Thank you.
From Capfriendly:
"Signing Bonus
Signing bonuses are paid to the player regardless of a buyout. Therefore, as explained in the buyout caphit formula above, signing bonuses are excluded in the equation when determining the total buyout cost, and are included in the AAV value when determining the remaining caphit.
Signing bonuses therefore decrease the buyout caphit savings. In the case of players with significant signing bonuses, such as David Clarkson, the remaining caphit decreases minimally. Due to this, Clarkson's contract has been referred to as a buyout-proof contract."
For everyone else's benefit: Marleau has signing bonuses of $3M and salary of $1.25M. He gets his signing bonuses per his contract ($1.5M Jul.01 and $1.5M Dec.01.) His remaining salary will be 2/3 of the contract amount, which is $833,333.33 ($1.25M x 2/3) split over two years (twice the remaining term.) So he'll get paid:
Year one: $3.417M ($3M SB + $417k salary) + whatever his new team pays him.
Year two: $417k (salary).
Because he's over 35, the Canes have to carry his full $6.25M cap hit this year regardless of how they have to pay him.