Trades are one of the most anticipated events in the NBA, with fans and OKBET players watching out for who will be changing jerseys. However, another option for teams to release or acquire players is buyout.
NBA Buyout: What is it?
The NBA Buyout usually happens after the NBA Trade Deadline, so the player bought is qualified to join the buying team’s playoff roster.
The player and the team must mutually agree for a buyout to happen. Also, the player released will still get a portion of the contract salary he was owed.
The buyout occurs mainly because a veteran wants out of his team, and there are two reasons why:
- No playing time.
- Aims to play for a contending team.
If it happens, the player must wait two days to be spent clearing waivers. Once it is done, he will become a free agent. From there, the player is cleared to receive a new contract from any team.
Another reason is that the team wants to reduce the player’s salaries from their cap.
Reasons for a Buyout
Teams do not let go of a player without any reason.
For veterans getting bought out, the main reason is the decline in their performance and their injuries.
Another reason is that players have reached the final year of their contracts, and the team is not keen on keeping them any longer. Also, the player wants out of the roster.
Sometimes, a player may be included because of a trade package. This happens when a team gets forced to take a player just to complete a trade deal. Once the offer is completed, the team will waive or buy out to remove him from the roster.
Teams are also avoiding high-maintenance players. For instance, the case of Dion Waiters, who, despite playing well with the Miami Heat, did not work well with the Los Angeles Lakers. Waiters agreed that he was not in sync with the Purple and Gold, so he wanted a fresh start—with another team.
Advantages of Buyout
Teams take advantage of buyouts because: it can free up their roster, especially if a young player catches their eye; or get rid of a particular player without the need to take another player’s contract.
For instance, Russell Westbrook was formerly with the Los Angeles Lakers. At the recently-concluded trade deadline, he was traded to the Utah Jazz through a three-way deal involving the Minnesota Timberwolves.
But Brody was not planning on staying with the Jazz. He wanted to stay in Los Angeles and thus aimed to play for the Clippers, joining Kawhi Leonard and Paul George. For that to happen, the Jazz must complete the buyout, and Westbrook be an unrestricted free agent.
Again, a buyout can only happen if the player and team agree. In Russell’s case, the Jazz was willing to let go of the veteran.
How is it Different from a Waiver?
An NBA waiver does not work similarly to a buyout. While the latter has a mutual agreement, the former does not.
NBA waiver works one-sided—the management decides the faith of the player. Negotiations do not occur in this type of player switching, and the team waiving must pay the player’s remaining salary.