Sixers Sign Justin Holiday, Waive Jeremy Pargo

9:48am: The Sixers have officially signed Holiday and waived Pargo, the team announced via press release. The release doesn't specify whether Holiday signed a 10-day contract or a lengthier deal, though according to Mitchell, the deal is for the rest of 2012/13. Pargo departs the team after signing a 10-day contract in February followed by a deal that covered the rest of the season. Philadelphia is on the hook for a prorated portion of the minimum salary for Pargo even though he won't be on the roster anymore. All told, Pargo will make about $265K from the Sixers this year.

MONDAY, 7:59am: Holiday has a signed contract and will be at Sixers practice Monday, according to John Mitchell of the Philadelphia Inquirer. The team will likely waive Pargo or Jenkins to make room. 

SATURDAY, 11:29pm: The Sixers will sign shooting guard Justin Holiday, the older brother of All-Star point guard Jrue Holiday, tweets Marc J. Spears of Yahoo! Sports. The Sixers are at the 15-man roster limit, so they'll have to waive someone on a guaranteed contract to fit Holiday in. It's unclear whether the deal is a 10-day contract or covers the rest of the season.

Holiday has averaged 17.0 points, 5.2 rebounds and 2.5 assists per game for the D-League's Idaho Stampede this season, having spent the year with the club after the Blazers waived him at the end of training camp. The Blazers appeared high on the 6'6" 23-year-old, claiming him off waivers from the Cavs during camp and protecting his D-League rights so they could keep him on their affiliate. Portland never elected to re-sign him during the regular season, however.

I wouldn't be surprised if the Sixers are bringing Holiday aboard on a rest-of-the-season deal with a team option or non-guaranteed year that covers 2013/14. With the team five and a half games out of the playoffs with nine games left to play, there'd be little reason to waive a guaranteed deal just to sign a guy to a 10-day contract, but we'll see. The most likely candidates to go appear to be Royal Ivey, Charles Jenkins and Jeremy Pargo, all of whom are on minimum-salary deals. Damien Wilkins is also making the minimum, but he's been a part of the team's starting lineup of late.

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