Hornets Waive Tony Parker In Procedural Move

The Hornets have waived guard Tony Parker, the team announced today (via Twitter). The move was a procedural one, as Parker formally announced his retirement last month.

When Parker signed with the Hornets last summer, he inked a two-year, $10.25MM contract which included a non-guaranteed salary in year two. By releasing the longtime Spur, Charlotte will avoid having his $5.25MM salary for the 2019/20 season become guaranteed. That would have happened if he had remained under contract through Thursday, per Basketball Insiders.

Technically, this frees up Parker in the event that he decides to make an NBA comeback down the road, but there’s no indication that’s something he’ll consider.

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