Magic would likely use amnesty clause to part ways with Gilbert ArenasPosted by Inside Hoops
If there’s an amnesty clause written into the NBA’s next CBA, the Magic will most likely use it to pay off Gilbert Arenas and part ways with the enigmatic, fading point guard.
It’s an easy call to use this mulligan, given the three years and $62 million left on Arenas’ contract.
With the amnesty clause, a team that foolishly overpaid for a player can pay off said player and release him, with the money this time coming off the salary cap.
This is a boon for top-spending clubs such as the Magic, whose current payroll is about $75 million, second only to the L.A. Lakers’ $91 million.
The last time amnesty was used, in 2005, the so-called “Allan Houston rule” allowed teams to lop off a salary, but they could only subtract it from the punitive luxury tax.
– Reported by Brian Schmitz of the Orlando Sentinel