UPDATE: 76ers waive Javale McGee because they are who we though they were
The Philadelphia 76ers have agreed to waive center JaVale McGee in time for him to sign with a playoff team, a person with knowledge of the situation told USA TODAY Sports. The person requested anonymity because the decision had not been announced.
Players waived by March 1 can still sign with teams that compete in the postseason, meaning the 27-year-old McGee will likely have a fruitful market when he clears waivers. Whether it's a new job with one of the Texas teams (San Antonio Spurs, Dallas Mavericks, Houston Rockets), the Miami Heat or another contender, McGee has every reason to be enthused about what lies ahead — especially considering he didn't give any money back.
The Sixers being under the salary floor both before and after the trade actually makes this something of a special exception, so it will cost them a good deal less than that. I don't know exactly how much was left to be paid out on Javale's contract this year, but they get credit against the salary floor for the entire value of his salary, meaning whatever was already paid out by the Nuggets (if your $4ish million remaining number is correct, then about $7.25 million) is pure savings, and the money remaining on his on his contract doesn't actually cost them anything because that money would have had to be paid out to the rest of the players on their roster anyway.
If I understand correctly, the actual amount of money that the $16 million remaining on JaVale's contract costs the Sixers, in terms of cash that otherwise wouldn't be spent, is something like a third of that figure, and that's if you assume the Sixers start next season above the salary floor, which I don't think is a given (and is probably unlikely).
Again, that's all if I understand the rules regarding the salary floor correctly.
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