Thanks..so they clear the 48 hour waiver, then have to complete the buyout, and then they are good to go?
Correct. 67. What is a contract buyout? Sometimes players and teams decide to divorce each other. They do this by mutually agreeing that: The team will waive the player If the player clears waivers, the player's guaranteed salary will be reduced or eliminated (see question number 64) In contracts signed or extended under the previous CBA, the payment schedule for the remaining salary may be shortened or lengthened (see question number 65) Optionally the team's set-off rights (see question number 66) may be waived After the player clears waivers, he and his former team are free to go their separate ways. There is a quid-pro-quo between the player and team regarding contractual obligation and salary -- in exchange for gaining his freedom, the player agrees to give the team a break on the remaining salary he is owed. But there's a twist, which needed an arbitrator's ruling to resolve. As detailed in question number 64, on January 10 all contracts become guaranteed for the remainder of that season. Although compensation protection ensures the player is paid after he is waived, the compensation protection does not kick-in if the player is waived after January 10, because the player does not lose any salary. Even though the team and player can mutually agree to reduce or eliminate the player's compensation protection, he is still owed his full salary if waived after January 10. This was challenged by John Starks during the 1999-2000 season. Starks had been traded to the Bulls, and wanted to sever ties with the team after January 10. The arbitrator ruled that in the last season of a player's contract a team and player can choose to eliminate the protection that kicks-in on January 10. Starks and the Bulls were therefore free to walk away from each other with no money owed. The Voluntarily Retired List (see question number 79) can also be utilized when the player wishes to end his employment with his team. However, since the player is not free to sign with another team, it is typically utilized when the player really intends to retire, and not when the parties are simply seeking a divorce.
I think we should keep an eye on Terrence Jones He is mobile and may just need better coaching Rocket River
Can someone explain the process of clearing wavers? Is it like the worst teams get first dibs or something? Thanks.
Click on nationality and take another guess: http://basketball.realgm.com/international/league/40/Chinese-CBA/players From A-Zhou Lou, who is the target? Is it an American? Or do they need Zhou to help them build a ****ing wall in the paint for the Westerners in ZHouston?
I would think Bogut would want to go play with the Cavs as it would give him a strong chance to face the team that dumped him (GS) in the finals. Or he could sign with us and go up against GS in the WCF
Someone please tell me if a Corey Brewer getting bought out by LA and returning scenario is possible and I should start preparing myself mentally.
Another WAAAAY under the radar buyout possibility.....Danilo Gallinari. He will be a free agent this summer and perhaps he wants to go to a contender. Probably not, but it's one of thos things that could come out of left field.
Basically if you waive a player another team can pick up that player for the exact contract he signed with you. They'd have to have the requisite capspace to do so of course. And yeah, worst teams gets first dibs. Rarely are such players claimed because if the GM is doing his job, said player can simply be traded instead.
I just hope some more quality players get bought out. Preferably a wing player and I don't see anymore PF/C being waived. Low key want to take a chance on Larry Sanders and if we can't get any big man, last resort just get J-Smoove.
Its not a possibility. Technically, yes, just like Harden could technically be bought out. But this will not be discussed or sought out from either side.
