Zach Parise and Ryan Suter signed matching 13-year, $98 million contracts with the Wild on July 4, 2012. Players over age 26 whose contracts are bought out receive two-thirds of their remaining contract value. So Parise/Suter will receive two-thirds of the $10 million salary left on their deals, or $6,666,667.
The buyout is spread over twice the remaining length of the contract, so in this case, eight years. That breaks down to $833,333 per season for the next eight years.
Salary cap impact
The amount owed to Parise/Suter is different than the salary cap hit the Wild will carry for the next eight years. This cap hit is determined by subtracting the salary savings from the average annual value of the contract, which is $7,538,461. This is for each player, so these totals will be doubled:
2021-22: The salary savings is $5,166,667, so the cap hit is $2,371,794.
2022-23: The salary savings is $1,166,667, so the cap hit is $6,371,794.
2023-24/2024-25: The salary savings is $166,667 so the cap hit is $7,371,794.
For the last four seasons, the cap hit is $833,333.