Does anyone think Kings waiving Ron Artest is a far-fetched idea? And if so, what may be the financial ramifications of such a waiving? I know contracted players continue to collect their salary after being waived, but is it possible to make a "deal" waiving a player in such a way the salary would not be counted against next years cap?
Any info would be greatly appreciated.
If the Kings were to waive Artest, he would be on the waiver wire for 48 hours where any team can pick him up and pay the remainder of his salary, after the 48 hours if he is not claimed he then gets treated like a free agent but Sacramento will still have his salary on their books.
Thank you very much!
If Artest isn't going to retire, this may be an alternative for Kings if the suits are just plain tired of his .
One more thing: any team that tries to claim him off waivers must have either the cap space or certain cap exceptions equal to his current season's salary. Only Charlotte could pick up Artest's contract were he to be waived this season.
The likelihood that his contract gets picked up in those 48 hours by a team like Charlotte is fairly slim though.
He would probably clear waivers and it would be up to Sacto to foot the bill....unless they could workout a buyout agreement with him beforehand. To my knowledge, a buyout means they pay the outgoing player less cash than he's owed, but his cap # is still the same.
If Ron-Ron retires though, his $$ don't count against the cap.
The cap hit would be the amount of the buyout, divided in proportion to the original amounts of his remaining seasons' salaries.
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