The Wizards‘ recent buyout agreements with guards Marcus Smart and Blake Wesley have reduced the team’s salary by more than $8MM.
As Keith Smith of Spotrac tweets, Smart gave up $6.8MM of his $21.59MM salary as part of his buyout with Washington, while Wesley forfeited roughly $1.38MM of his $4.73MM salary. In total, the two players now count toward the Wizards’ cap for $18,134,313 instead of $26,313,184.
Smart is set to sign a two-year, $10.5MM deal with the Lakers once he clears waivers. It’s unclear where Wesley will land next, but he likely wouldn’t have given up a portion of his salary unless he was confident about having another opportunity lined up.
[UPDATE: Trail Blazers, Blake Wesley Agree To One-Year Deal]
The Wizards won’t technically create any cap room as a result of the moves, since they’re still operating as an over-the-cap team. But their salary for cap purposes is now down to approximately $153.8MM, which is more than $34MM below the luxury tax line ($187.9MM). They also have nearly $39MM in flexibility below the first tax apron ($195.95MM) after accounting for Khris Middleton‘s $3.22MM in unlikely incentives.
The cap savings created by the Smart and Wesley buyouts will put the Wizards in an even better position to become a facilitator in trades during the rest of the 2025 offseason and into the 2025/26 regular season.
Clubs around the NBA who are looking to shed salary or who need a third team to take on a contract to make a trade work will likely make the Wizards’ front office one of their first calls. Washington would presumably be willing to accommodate that sort of deal if sweeteners such as draft assets or a promising young prospect are attached.
The Wizards still have their full non-taxpayer mid-level exception ($14.1MM), along with two trade exceptions worth $13.45MM and $9.9MM. While they wouldn’t be able to combine those exceptions to acquire a player earning more than $14.1MM, they could use all three separately to trade for players whose salaries fit within the limits.
They’ve been making some pretty damn business savvy moves so I’m not surprised to be honest. All that’s left to see is the player development and then we can say that there’s light at the end of the tunnel that isn’t from an incoming train lol
Surprising to see these guys operating with competence, dare I say shrewdness
I agree, they are doing a great job building this team. They just need a young C rebounding specialist(Sarr to PF). Maybe trading Champaigne and a pick for that. Then waiving Middleton and McCollum. Sign a couple older veterans(30+) to sit on the bench (on veteran minimum contracts)
Middleton and McCollum are the vets they need.
Dont waive them before the trade deadline…
Middleton and McCollum are the perfect salaries to accomodate a Paul George salary dump for example, with Oubre Jr. going into one of those exceptions.
And also in case Lebron or Giannis still want to change teams, both those two expiring contracts could go to Milwaukee or Lakers, while Washington takes on some other players. Or any other variation to make salary matching work, with potentially a fourth or fifth team taking on Buddy Hield, Green, Podziemski or Kuminga in a GSW scenario for Lebron for example.
They also have Kispert for aggregation so they could do something. They just need to be patient for now and not get Kuminga yet because of the base year compensation for example.
They also got No.18 pick in the draft for taking on Smart in February. Memphis were 2nd in the West and 4th in the NBA at the time of the trade, which would be giving Washington the 27th pick. Then they stumbled down the table, and the pick became No.18.
That deal has worked better than Wash could have hoped.
Looks now the Kings are back at being the worse team in the NBA.
All time it still is the Wizards imo cant lie Hornets are close
Hornets all 4 draft picks this year are looking good
I can help them save even more $$.
I’ll easily reach an agreement to a buyout
SO
They can pay me to not play for them as well.
Contact me immediately.
Small moves that go under the radar are not noticed until it reaps benefits for teams like Washington. Like a few guys in here said above me, very shrewd moves by this front office, they are getting creative on how to maximize their cap space while obtaining future assets. Now if the NBA only allowed them to win a lottery in a deep draft class, they might be onto something in DC.
I thought that Smart would give up most of his money, this looks like a pretty good deal for him
Smart only gives up 1,3 million on top of his first-year salary while getting a player option for the 2nd season of around 5,5 million.
I guess they looked a the difference with a veteran minimum and that player option?
I would expect players to give up more than they are getting on their new team though…
By the way: Washington could have stretched those salaries and Holmes over two years, having more flexibility this season (to maybe sign someone into cap room) while being closer to the salary floor next season.
But it seems they are mainly focussing on cap space next (off)season for now. Probably the best choice since they have those exceptions to use, but could turn out differently.
I love how the new regime is building. A roster full of young guys to grow and develop. All while continue to competitively lose for a lotto chance at a star. We are two seasons away but coming from the OKc front office our staff is slowly building assets and taking shots on talent.
Giving up Deni on that contract was insane. But, the Blazers reaped that trade regardless who those two picks develop into.