According to Vince Ellis of the Detroit Free Press, the Pistons have finally parted ways with guard Rip Hamilton.
Hamilton was acquired by Detroit via a trade from Washington in 2002.
This wasn’t an “amnesty transaction” but rather a straight up waiver. The Pistons still owed Hamilton $20 million over the next two seasons. He is now free to sign with another team.
Per the terms of the new CBA, on a one-time basis during the course of the new collective bargaining agreement, each team will be permitted to waive one player currently under contract and have his salary not count for cap and tax purposes. The team must still pay the waived player.
Via Twitter @freeppistons
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