The NBA had a lockout back in 2011 mainly because of bad contracts handed out by owners coming back to bite them when they no longer wanted to or could pay them out.
Despite the lockout and the work to end bad contracts, they still exist in the NBA and teams are continuing to find ways arouns paying their players in the time frame given in their contracts.
The Sacramento Kings have gotten in on this when it comes to Wayne Ellington. According to Marc Stein from ESPN.com, the Kings have waived Wayne Ellington on Sunday which was the last day to apply waive-and-stretch provisions for players on roster.
Sacramento, I’m told, waived Wayne Ellington on Sunday, which was last day teams could apply waive-and-stretch provision to coming season
— Marc Stein (@ESPNSteinLine) September 1, 2014
What the stretch provision does is it allows a team to stretch a player’s contract out over double what it was in the contract. That’s not really helpful in getting a guy off the books but it helps lower his hit towards the luxury tax each year.
Be sure to check FanSided.com’s official NBA page to keep up to date on the latest news and rumors from around the league all summer long.
Tags: Sacramento Kings