The Bobcats and Boris Diaw have agreed on a buyout for the remainder of his contract, according to Rick Bonnell of the Charlotte Observer. The Bobcats confirmed in a press release that they have officially waived Diaw, so he should clear waivers on Friday.
Diaw was in the final season of a five-year, $45MM contract, having exercised his player option for this season. By buying him out of the deal, the Bobcats will save a little of his $9MM cap figure for 2011/12.
Diaw's averages of 7.4 PPG and 10.9 PER are his worst since 2004/05, while his .410 FG% is a career low. The 29-year-old didn't exactly see eye-to-eye with coach Paul Silas and has drawn criticism for his conditioning throughout the season. His agent had contacted the Bobcats about the possibility of a buyout prior to the trade deadline, and when Charlotte couldn't find a deal by last Thursday, a buyout seemed inevitable.
The move reduces the Bobcats' roster to 14 players, and will allow Diaw to maintain playoff eligibility if and when he signs elsewhere.