I heard the Knicks were going to "buy-out" Steve Francis' contract, what exactly does this mean? I also heard this about Chris Webber.
2007-01-10 14:39:14 · 5 answers · asked by Anonymous in Sports ➔ Basketball
The team agrees to pay the player a portion of his remaining contract and then waives or releases him. It saves the team a little money and allows the player to find a more favorable situation. The money the team pays the player to buy him out DOES count against the salary cap.
2007-01-10 14:49:59 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Chris Webber's contract was reportedly bought out earlier today.
i dont need to answer, others have covered it... but now Webber is a FA, and the 76ers no longer have that cap hit.
2007-01-11 04:09:51 · answer #2 · answered by Cody 2 · 0⤊ 0⤋
It means the team realized that they made a mistake paying this guy all this money for all these years. So it's like a settlement, we'll pay you this amount now you're a free agent and you can go dick somebody else out of all their money.
2007-01-11 00:13:16 · answer #3 · answered by askmeguru21 5 · 0⤊ 0⤋
its like what team they are going to and they sign a contract and you stay in a team for " xx " time and when you are done iwth those years you are a free agent
2007-01-10 23:32:44 · answer #4 · answered by Anonymous · 0⤊ 1⤋
i think it means that tha person from another team brought their contract and now that person playz on that team?
2007-01-10 23:02:58 · answer #5 · answered by liltrackstar94 2 · 0⤊ 0⤋