Buying Out Aaron VorosMay 13, 2009, by
In our quest to help you understand the cap, we have put numbers behind the Rangers faithful requests to buy out Wade Redden. From that post, you can see the cap rammifications of such a buyout. Is it worth it? Well, that’s for Glen Sather to decide.
Redden isn’t the only popular buyout candidate, as Aaron Voros, seemingly with no spot on a John Tortorella roster, has had his name thrown around the blog-o-sphere for a potential buyout. Voros signed a 3 year / $3 million contract before last season. Thus, he has 2 years / $2 million left on his contract with the Rangers, and a $1 million cap hit as of this moment.
Voros’ salary was front-loaded, and he is set to make $900,000 / year for the next two years. Let’s run through the buyout numbers:
- (1) Buyout Amount: (900,000 * 2 years) * 2/3 = $1.2 million
- (2) 2x Remaining Years: 2 years * 2 = 4 years
- (3) Spread buyout amount (1) equally through 2x reamaining years (2): $1.2 million / 4 = $300,000
So, Aaron Voros can have a $1 million cap hit for this year and next, or a $300,000 cap hit for the next four years. It saves the Rangers $700,000 in cap room for two years, but costs them $300,000 in cap room for the following two years. Personally, I wouldn’t do it. I would just let him play in Hartford (thus clearing the $1 million cap hit anyway), and call up Dane Byers.