Filed under: Bobcats
CHARLOTTE, N.C. (AP) -- Unable to swing a trade, the Charlotte Bobcats waived center Erick Dampier on Tuesday, voiding one of the NBA's most unique contracts and avoiding the dreaded luxury tax.Dampier was in the last year of a seven-year, $73 million deal, but the $13 million for this season wasn't guaranteed because he failed to meet playing time requirements.
The Michael Jordan-owned Bobcats, desperate to get their payroll under the luxury tax threshold of $70.3 million, traded center Tyson Chandler to Dallas in July in a five-player trade that included Dampier's contract.
At first, Charlotte wasn't content in just waiving Dampier to clear cap room. Starting Monday, they could've packaged Dampier's contract in a multiplayer deal, possibly for a needed point guard. But the Bobcats found no takers in a deal that also would have kept Charlotte below the luxury tax.
Waiving Dampier leaves the Bobcats about $5 million shy of the luxury tax, a dollar-for-dollar tax Jordan has said the team wouldn't exceed.
"We explored several trade possibilities involving Erick, but ultimately we have been unable to find a viable option that we felt made our team better," general manager Rod Higgins said. "Out of respect to Erick, we have decided to release him at this time so he may pursue opportunities with other teams prior to training camp."
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Full story at http://nba.fanhouse.com/2010/09/14/charlotte-bobcats-waive-center-erick-dampier/
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