The Indiana Pacers have decided to waive James Posey and his $6.9 million contract under the league’s new amnesty clause, Adrian Wojnarowski of Yahoo! Sports tweets.
Under the new collective bargaining agreement agreed on by the owners and players earlier this month, teams are allowed to waive one player from their team and remove that contract from their salary cap. Teams will now soon be allowed to place bids on Posey during the amnesty waiver process.
The Pacers’ move to waive Posey under the amnesty clause comes after they have reportedly traded for former first round pick OJ Mayo. The 34-year-old veteran has played with seven different NBA teams since being drafted in the first round by the Denver Nuggets in 1999. Over his career, Posey averages 8.6 PPG, 1.6 assists and 4.7 rebounds.