Kentavious Caldwell-Pope is set to join the Philadelphia 76ers after relinquishing $3,876,529 in a buyout arrangement with the Memphis Grizzlies, Hoops Rumors confirmed Tuesday, citing Michael Scotto of HoopsHype.
The forfeited sum mirrors the salary the 31-year-old guard will earn on a one-year veteran-minimum contract once he clears waivers and officially signs with Philadelphia.
The agreement gives the 76ers the flexibility to add another seasoned player alongside LeBron James while staying below the NBA’s first-apron hard cap.
Memphis also benefits: rather than carrying Caldwell-Pope’s full $21.6 million salary, the Grizzlies will be responsible for about $17.7 million, creating additional financial room before the upcoming season.
After signing first-round pick Karim Lopez, Memphis remains under the salary cap while still operating as an over-the-cap team, allowing it to preserve valuable trade exceptions, including the one generated in the Jaren Jackson Jr. deal.
Philadelphia cleared its final roster hurdle earlier in the day by sending Johni Broome to the Los Angeles Clippers, paving the way for Caldwell-Pope’s arrival once the waiver process concludes.
Source: Hoops Wire
