Yesterday the Detroit Pistons announced that they were going to buy out 12-year veteran Richard Hamilton from his contract, effectively making him available to be signed by another team. Today, Pistons beat reporter Vincent Goodwillconfirmed from sources the specifics of the buyout:
@vgoodwill
Vincent Goodwill Source confirms: #Pistons buyout of Richard Hamilton in the neighborhood of $8 million. Which is why no Amnesty Clause. $11M in savings
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John Hollinger says that the savings are more than he expected and that if the Pistons choose to use their amnesty on someone like Ben Gordon, they could be major players in next summer's free agency. It's being reported that Rip Hamilton is already near a deal with the Chicago Bulls.