The Timberwolves have waived backup center Cole Aldrich, reports Adrian Wojnarowski of ESPN.
Aldrich’s $6.96MM contract, already guaranteed for $2.06MM, was scheduled to become fully guaranteed if Aldrich remained on Minnesota’s roster past today. Accordingly, the Wolves saved $4.9MM by cutting ties with Aldrich.
As Bobby Marks of ESPN notes, Minnesota will have the option to stretch the amount still owed to Aldrich over three years, which would open up an additional $1.37MM in cap room this summer.
Darren Wolfson of 5 Eyewitness News predicts that the Wolves will stretch Aldrich’s contract in order to avoid potential tax penalties should the team choose to use the full value of its MLE.
Aldrich, 29, averaged a career-low 0.6 PPG in only 21 games this past season. Throughout his eight-season career, he has averaged 3.1 points in 10.0 minutes per contest.
Not to nitpick, but from where they stand salary-wise they wouldn’t save $$ in cap room but just would lesson their proximity to the tax. They’re over the line either way.
How on earth did this dude ever get a 7MM/year contract? SMH