Lue waived

[joemama]

No one on here has said anything about us waiving T. Lue. Huh well he's being bought out (according to Sam Amick) because today is the deadline.

 

[VF21]

Waived and bought out are two different things. I do think there's a link in the Kings News forum about this story. I don't think anyone around here really cares.

 

[Glenn]

Curiously Amick says he is being bought out and then later says he is being waived.

 

[VF21]

My guess is he's being waived.

 

[Jerryaki]

what's the difference, financially, between the two??

 

[VF21]

Buy outs are generally for a percentage of the remaining contract.

Waivers mean we're still on the hook for his salary less anything he makes from a new team, should he be picked up on waivers. If he clears waivers, however, then we're stuck for what we owe him AND he gets whatever from the new team.

 

[C Diddy]

So if a guy clears waivers, then gets picked up, he basically gets double pay for the rest of the year (assuming he gets picked up at the same pay he was waived at)?


Not a bad deal. Are there any disadvantages to clearing waivers?

 

[fnordius]

So if a guy clears waivers, then gets picked up, he basically gets double pay for the rest of the year (assuming he gets picked up at the same pay he was waived at)?

Almost. Under some circumstances, the team that waived him can get a little discount, based on the paycheck his new team is giving him. But they never get a big discount, if they get one at all.

So this is definitely a great situation for Lue, who, if he signs with another team today, can still be in the playoffs. For us, it really doesn't matter one way or the other.

 

[Section 101]

You still have to waive them after the buyout. If he gets picked up then they take the orignial contract otherwise the agreed upon amount if they clear waivers.