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Carlos Boozer waived by Bulls using Amnesty provision

Christopher Pasatieri

The Bulls reportedly had until tomorrow to make this official, but Sam Smith (!) broke the news just now

For those unfamiliar with the provision, we did a primer and FAQ in 2012 (ha) about it.

Basically:

  • Boozer's entire $16.8m salary for 2014-15 is wiped off the Bulls cap.
  • He will first go through 'regular' waivers, where a team (with either cap space or a large enough trade exception) can claim whole contract. Somehow I think he'll make it through.
  • Then he'll go through Amnesty waivers, where there's a single blind-bid for eligible teams (again, with cap space or a TPE edit: the TPE can only be used to make the full claim, not the bid (thx: Nate Duncan))
  • The team with the highest bid claims Boozer. The bid $ gets paid by the new team and is on their cap sheet, and the difference is paid by the Bulls.
  • If nobody bids, he's an unrestricted free agent

So the higher another team bids (or signs him after he's a FA), the less the Bulls are paying Boozer next season. Now, remember, this is just in actual cash, he is ultimately off their cap for next season. But if you want to look at that table and put in a shadow-row where Boozer's getting paid and call it 'Reinsdorf payroll', I wouldn't blame you.