11:28pm: The Wolves have waived Martin, the team announced (Twitter link). Presumably, the official transaction took place before the 11pm Central time deadline, as previous reports indicated it would.
11:11pm: Some pessimism exists about the Mavs’ chances at Martin once he clears waivers, according to Jeff McDonald of the San Antonio Express-News.
10:38pm: The Timberwolves and shooting guard Kevin Martin have come to an agreement on a buyout deal, Marc Stein of ESPN.com reports (via Twitter). The move comes prior to the 11pm Central time deadline, so Martin will be eligible for the playoffs with any postseason-bound team he might sign with before the end of the regular season. It’s not immediately clear just how much salary the shooting guard gave up to secure his release. Martin is scheduled to earn $7.085MM this season with a $7,377,500 player option for next year. The move will give Minnesota a roster count of 13 players, two under the league maximum.
Martin was available for a trade prior to the February trade deadline, as Jon Krawczynski of The Associated Press first reported, but potential suitors were apparently reluctant to take him on without knowing what he’d do about his player option for 2016/17. GM Milt Newton said after the deadline passed without a Martin trade that a buyout discussion would probably take place between Martin and the team in the near future, and that’s apparently come to fruition.
The veteran scorer shouldn’t be out of work for long with a number of teams reportedly showing interest. The Mavericks, Cavaliers, Hawks, Heat, Rockets and Thunder are all potential suitors for the shooting guard, though the Spurs are reportedly the favorites to sign him, as Stein reported last week. The Spurs remain in front, with the Mavs, Rockets and Hawks in pursuit, according to Stein’s latest dispatch (Twitter link). San Antonio currently has the league maximum of 15 players on its roster, so a corresponding move would be required if the team inks Martin.
The 33-year-old has appeared in 39 games for Minnesota this season, including 12 starts. Martin is averaging 10.6 points, 2.1 rebounds and 1.2 assists in 21.4 minutes of action per appearance. His career numbers through 698 games are 17.6 points, 3.2 rebounds and 1.9 assists to go with a shooting line of .438/.385/.870.