Knicks finally waive Cuttino Mobley

The New York Knickerbockers President of Basketball Operations Donnie Walsh announced today that guard Cuttino Mobley has been waived.

(Yes, this really did just happen today — on April 5, 2010.)

Mobley, 6-4, 215-pounds, was acquired from the L.A. Clippers in a four-player trade on Nov. 21, 2008. On Dec. 11, 2008, he announced his retirement.

ESPN reports:

Sources told ESPN.com that the Knicks were notified last week that their request for Mobley’s $9.5 million salary to be erased from their 2009-10 tax bill has been approved… Once Mobley clears waivers later this week, New York will see its luxury-tax bill for July drop from nearly $15 million to $5.1 million. That will also reduce the rebate that teams get for staying underneath the league’s $69.9 million luxury-tax threshhold from just over $4 million to $3.7 million.

The Knicks roster stands at 14 players.