5:12pm: The Blazers will use the waive-and-stretch provision to get under the tax threshold, Michael Scotto of HoopsHype tweets.
4:09pm: The Trail Blazers have waived wing Didi Louzada, according to a team press release.
Louzada was part of the blockbuster deal with New Orleans that sent CJ McCollum to the Pelicans. At the time, Louzada was recovering from meniscus surgery. He wound up making seven appearances for Portland late last season, averaging 5.0 PPG in 17.4 MPG.
Louzada was entering the second year of a four-year, $7,686,312 contract he signed with New Orleans. The Trail Blazers will take a cap hit of $1,876,222 this season but the last two years of the contract were not guaranteed.
Louzada, a 2019 second-round pick, was one of 15 players with guaranteed contracts on Portland’s roster. The Trail Blazers now have 18 players and can add two more before training camp.
The Blazers could elect to use the stretch provision, Bobby Marks of ESPN notes in a tweet. August 31 is the last day to use the waive-and-stretch provision and Louzada would count as $268,032 annually (over seven seasons) if the Blazers go that route. That would put Portland under the luxury tax threshold.
Well, they still have Nicholson on the payroll for 2 more years plus 3 for Bledsoe.