Richard Hamilton

Detroit Pistons President of Basketball Operations Joe Dumars announced today that the team has waived guard Richard Hamilton.

According to the Associated Press, “The move was made Monday after both sides agreed to terms of a buyout, which saved the rebuilding team $4 million in salary cap space this season and $4 million more next season. Hamilton was due to make $19 million over the final two years of his contract in Detroit.”

It’s been widely reported that Hamilton will now likely sign with the Chicago Bulls.

“We thank Richard Hamilton for his time here with the Pistons organization,” said Dumars. “Rip was a champion with us and a big part of our success over the last nine years.  We wish him all the best in the future.”

Hamilton spent nine seasons with Detroit (2002-2011) leading the Pistons in scoring in eight of those nine seasons.  Last season he appeared in 55 games (39 starts), averaging 14.1 points (.429 FG, .382 3FG, .849 FG), 2.3 rebounds, 3.1 assists and 0.7 steals in 27.2 minutes per game.  Hamilton is one of six players in Pistons franchise history to reach the 11,000-point plateau and one of five players to score 50-plus points in a game (51 at New York, 12/27/06).

During his tenure the club made six consecutive trips to the Eastern Conference Finals (2003-2008), two trips to the NBA Finals (2004, 2005) and won the NBA Championship in 2004.  In 631 games as a Piston, the Coatesville native averaged 18.4 points, 3.4 rebounds and 3.8 assists per game.  He has career NBA averages of 17.7 points, 3.2 rebounds, 3.5 assists and 33.0 minutes in 843 games.