Wood, who has a partial guarantee on his salary that takes effect opening night, was waived Monday by the Pelicans. The power forward/center would be guaranteed $822,679 on his $1,645,357 salary for next season if he remained on the roster for the first game. The full salary won’t be guaranteed until January 10, when all league contracts become guaranteed.
Detroit inherits that contract with the successful waiver claim. The Pistons now have 17 players on their roster with 14 guaranteed contracts – according to ESPN’s Bobby Marks (Twitter link) – and are $223K below the luxury tax.
Wood, 23, is no stranger to the waiver wire. New Orleans claimed him in March after the Bucks let him go. He played just eight games for the Pelicans, but averaged 16.9 points and 7.9 rebounds per night. He has also had brief stays with the Sixers and Hornets since entering the league.