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Mike Bibby Reaches Buyout With Wizards, Reportedly Headed To Heat

Submitted by admin on Tuesday, 1 March 2011No Comment

1298948438 71 Mike Bibby Reaches Buyout With Wizards, Reportedly Headed To Heat

Mike Bibby really wanted to play for a contender after getting traded from the Atlanta Hawks to the Washington Wizards right before the trade deadline. How badly? Bibby has agreed to a buyout from the Wizards in which he will give back his entire $6.4 million salary in 2011/12, according to a report by Yahoo! Sports’ Marc Spears.

Guard Mike Bibby agreed to give up entire $6.2 million salary for the ‘11-’12 season to get buyout with Wiz to play for winner, source says.    

The move clears Bibby to sign with any team and still be eligible to play in the 2011 playoffs. he would like to end up signing with the Miami Heat once he clears waivers, though nothing is official, according to a report by Sam Amick.

Bibby therefore will only receive his salary for this season, pro-rated for the amount of time left in the year. It’s among the most significant sacrifices a player has made in recent memory to be bought out. Antonio McDyess sacrificed his $6.8-million salary for the following season to return to the Detroit Pistons after being traded to the Nuggets in 2008, and Rasheed Wallace sacrified two years and $13 million to retire from the Boston Celtics last season. 

The Wizards, meanwhile, clear Bibby’s salary from the books next season, meaning they ended up essentially getting two first-round picks, a third prospect selected in the 2010 first round (Jordan Crawford) and $6.2 million of cap relief from employing Hinrich for five months. That’s a nifty set of maneuvering by general manager Ernie Grunfeld. 

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