Why NBA Teams Are Rapidly Signing and Waiving Players Ahead of Opening Night
nba-preseason-sign-and-waive-exhibit-10
September 12, 2025 — The Toronto Raptors signed Quincy Guerrier, Tyreke Key and Jarkel Joiner this week, then released each player within 24 hours. Training camp is still weeks away, yet such swift transactions are expected to multiply across the league before opening night.
Why clubs make “sign-and-waive” moves
1. Securing G League affiliate rights
NBA rules allow a franchise to designate up to four preseason cuts as “affiliate players.” Once those athletes sign NBAGL contracts, they automatically join that club’s G League squad. The designation is available only if another G League team does not already hold the player’s returning rights, a scenario common for undrafted rookies and veterans who have never appeared in the minor league.
Players usually must spend at least one day participating in team activities to qualify, so many of these signings occur after camps open.
2. Providing Exhibit 10 bonuses
When a player’s G League rights are already controlled by the organization’s affiliate—as is the case with Guerrier, Key and Joiner—teams can still offer financial incentives through non-guaranteed Exhibit 10 contracts. If the player is waived and then remains with the affiliate for at least 60 days, he earns the negotiated bonus.
The maximum Exhibit 10 bonus this season is $85,300, a sum that does not count against the salary cap. While most deals reach the maximum, role players sometimes accept smaller amounts; Key, who averaged 17.3 minutes per game for Raptors 905 last season, agreed to a $35,000 bonus.
Exhibit 10 money represents a significant boost for G League salaries. In 2022, the base NBAGL pay was reported at $40,500, meaning a bonus can double—or even triple—a player’s earnings.
Additional maneuvering
The Raptors recently acquired Joiner’s returning rights from the College Park Skyhawks, allowing the organization to place him on the 905 roster and extend an Exhibit 10 bonus. Whenever a team signs and waives a player whose G League rights belong elsewhere, it often signals that a minor-league trade is imminent or already completed.
While only some forthcoming sign-and-waive deals will pursue new NBAGL rights, nearly all will involve Exhibit 10 incentives aimed at keeping players in a team’s developmental pipeline.
Source: Hoops Rumors
