SEPTEMBER 1, 11:24am: The Bucks have issued a press release confirming that Hawes has officially been waived.
SEPTEMBER 1, 8:21am: While there hasn’t been any official word from the Bucks on Hawes, a report ESPN’s Adrian Wojnarowski indicates that Milwaukee has waived the veteran center. Presumably, the move was finalized on Thursday in order to stretch Hawes’ 2017/18 salary.
AUGUST 31, 4:25pm: The Bucks are likely to waive and stretch Spencer Hawes, David Aldridge of TNT tweets. Today, of course, marks the deadline for teams to part ways with a player while stretching his 2017/18 salary.
By waiving and stretching Hawes, the Bucks would free up over $4MM in cap space this year which would serve them well as they currently sit just above the tax line.
The stretch provision allows teams to spread a waived player’s contract over twice the number of years remaining on the contract, plus an additional year. In Hawes’ case, owed $6MM through one season, his cap hit would become $2MM annually through three seasons, ending at the culmination of the 2019/20 campaign.
Hawes, a 29-year-old center with three-point range, played half a season for the Bucks after moving alongside Roy Hibbert in the Miles Plumlee trade. Hawes averaged 4.4 points per game in 19 contests for Milwaukee but ultimately saw his role reduced by the emergence of Thon Maker.