There have been rumors of this move happening, with the Los Angeles Lakers heavily over the tax line, but Kevin Ding of the Orange County Register has made it official:
Sweet a guy as he is, @MettaWorldPeace will be waived via amnesty by Lakers to save about $30 million, barring some late change.
— KEVIN DING (@KevinDing) July 8, 2013
Metta World Peace has spent his last four seasons as a member of the Lakers, helping the team to a championship in 2010. Over that time World Peace averaged 9.9 points, 4.0 rebounds and 2.2 assists, but shot woefully with an effective field-goal percentage of .474. But heading into his 15th season, Metta had become sort of a liabilty to the Lakers especially being owed $7.7 million. And because of the new rules of the CBA, the Lakers chose not to pay extra millions for World Peace’s services. According to HoopsWorld, the Lakers are over the tax line (around $70 million) by at least $10 million, with $30 million being paid to Kobe Bryant.
By amnestying MWP, the Lakers will reportedly save $30 million on taxes. The move will also drop the Lakers salary cap to around $74 million, still being above the cap, but closer to the salary apron. The Lakers are still contractually obligated to pay World Peace his salary until his deal is up, but the money won’t be accounted for on the cap.
Teams around the league can now bid for World Peace when the move if officially done with the team throwing out the highest bid obtaining World Peace’s services.