Found December 09, 2011 on Pro Sports Daily:
The Orlando Magic have waived guard Gilbert Arenas, using the newly implemented amnesty clause on the former high-scoring guard. Arenas appeared in a combined 70 games with the Washington Wizards and Orlando last season, averaging 10 points and 3.9 assists. Despite having a history of knee injuries, Arenas was signed to a six-year, $111 million contract by the Wizards in 2008. Last season, he was traded to the Magic for Rashard Lewis. The 29-year-old Arenas has a 21.2 scoring average in 10 seasons, including a career-high 29.3 points during the 2005-06 season. As part of the NBA's new collective bargaining agreement, each time is allowed to dump one contract as part of an amnesty clause. The amount of the contract comes off of the team's salary cap, but the club must still pay the player the full amount owed him. Arenas was suspended 50 games during the 2009-10 season for bringing guns into the team's locker room.

Magic uses amnesty clause on Arenas

Orlando Magic President of Basketball Operations/General Manager Otis Smith announced Friday that the team has decided to part ways with Gilbert Arenas by designating him as the team's amnesty player.

Magic Waive Gilbert Arenas with Amnesty Clause; Pistons Cut Rip Hamilton

The new Amnesty Clause in the NBA labor agreement update claimed it’s first ever victim today. Gilbert Arenas of the Orlando Magic. Yes, “Hibachi,” “Agent 0,” or as I call him “shooty mcshootington” or “gunsy mcgunsington” walks away from the Magic with a cool $60+ million; without having to do a thing. The Magic get to take his albatross of a contract off their...

Magic waive Arenas, mum on any Dwight Howard moves

The Magic have announced they are using a new Collective Bargaining Agreement amnesty provision to release guard Gilbert Arenas. Orlando posted the move on its website Friday. The new amnesty provision allows a team a one-time option to waive a player's remaining contract from the salary cap and luxury tax. The 29-year-old Arenas struggled to make an impact in Orlando after...

Orlando Magic Use Amnesty Clause On Gilbert Arenas

Through the end of the 2014 season, the Orlando Magic were scheduled to pay Gilbert Arenas $62 million dollars for the version of basketball he currently plays. He'll still get just about all of that from the Magic most likely, but it won't be for playing. In a partnership that didn't really seem like it would work right up until it never did, the Orlando Magic have...

Chauncey Billups & Gilbert Arenas Are First Victims Of The NBA Amnesty Clause

Not caught up with your amnesty checker? I got you!! Keep in mind that a player waived via amnesty are entered into a blind pool where teams that are currently under the salary cap are allowed to bid on his services. The Orlando Magic have used the clause on guard Gilbert Arenas. Traded to the Magic in December of 2010, Gil has $63 million left on his contract. Who didn’t see...

Orlando Magic use amnesty clause to waive Gilbert Arenas

The Orlando Magic have waived Gilbert Arenas, and designated him as the team’s amnesty player according to a team press release. This is perhaps the least surprising news of the day, as Arenas, on the books for $62 million over the next three seasons, was widely expected to be among the first players dropped under…

NBA free agency tracker: Gilbert Arenas waived; Grant Hill returning to Phoenix

The NBA is back in business, and Gilbert Arenas was one of the first on the move. Arenas got waived by the Orlando Magic this afternoon not long after the lockout's formal end.

Magic use amnesty clause, waive Gilbert Arenas; team mum Dwight Howard's future, other moves

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The NBA’s Newest Free Agent: Gilbert Arenas

Now things are getting real. In an official statement from the Orlando Magic – on their website – President of Basketball Operations/General Manager Otis Smith announced that they have waived Gilbert Arenas and designated him as the team’s “amnesty player,” paying him the $62.4 million left on his contract through 2013-14. Welcome to free agency, [...]
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