Huge news from the Detroit Free Press:
Detroit Pistons guard Rip Hamilton is expected to be waived today, according to a personal familiar with the situation.
Hamilton is owed $22 million over the next two seasons. He was set to make $13 million this season before the lockout and $9 million next season.
That article doesn't have a byline, but according to the Freep's Twitter account, the info comes courtesy of Perry Farrell.
What's also interesting is that the Pistons apparently aren't using the amnesty clause to get rid of Hamilton. This could mean a couple of things:
- The Pistons may want to use it on another player. (Chances of that player being Ben Gordon, needless to say, have plummeted.)
- Hamilton and the Pistons agreed to a buyout worth less than the full amount of what he's due. (In other words, it was too expensive to amnesty Hamilton, but he wanted out of Detroit so badly that he was willing to leave money on the table.)
Again, theories about Detroit's motivations to save their amnesty are pure conjecture at this point, but I'm sure more will come out -- perhaps even tonight. The Pistons' first practice was scheduled to begin at 5 p.m., with media availability some 90 minutes later. If nothing else, we may get reaction from his teammates.
I'm also curious what this means, if anything, for Rodney Stuckey. With Hamilton, Tracy McGrady and Terrico White leaving the team, the backcourt is much less crowded. Stay tuned.
Update: Confirmations are pouring in -- this is for real. From Vincent Goodwill:
Pistons source confirms: Rip Hamilton bought out. No Amnesty clause used
From Vince Ellis:
Don't have a figure, but source says buyout considerably less than $20 million he is owed over next two years. Why amnesty wasn't used.