January 20, 2017
During the normal Friday news dump, the Sixers made a transaction and claimed former Cleveland Cavaliers point guard Mo Williams off waivers. This wasn’t to add another shooter in the backcourt, though, as Williams announced he was retiring before the season started due to chronic knee pain. He then had surgery in October.
According to various reports, the Sixers then subsequently cut Williams.
The Williams acquisition was first reported by Marc Stein, and the ESPN scribe reported this move was about getting to the salary cap floor:
The Sixers, according to league sources, have claimed Mo Williams off waivers
— Marc Stein (@ESPNSteinLine) January 20, 2017
Philly's motivation for claiming Mo Williams would be the same as Denver trading for him: To get $2.2 million closer to the salary floor.
— Marc Stein (@ESPNSteinLine) January 20, 2017
Swooping in to snag Mo Williams off waivers means Philly's now poised to move $2.2M closer to the salary floor AND keep Denver from doing so
— Marc Stein (@ESPNSteinLine) January 20, 2017
The Sixers are no stranger to reaching the salary cap floor late in the season and saving money because of it. The current CBA stipulates that as long as teams reach the floor by the end of the season, it doesn’t matter if they only actually the prorated total of some players’ actual cap hits. Back in 2014, the Sixers acquired JaVale McGee, Ish Smith, and Thomas Robinson late in the season to reach the cap floor.
The Nuggets, who acquired the veteran point guard this week in a trade for the same purpose (to also cut him right away), now lose the benefit of trading for Williams. His $2.2 million salary goes onto the Sixers books:
This isn’t a very nice maneuver by 76ers if Williams doesn't play for them. Whether it causes any friction between Nuggets and 76ers is TBD.
— Albert Nahmad (@AlbertRandom1) January 20, 2017
According to Basketball Insiders, the Sixers started the day with $76,954,123 on their books. With Williams’ salary, they’re up to about $79.1 million. That leaves the Sixers about $5.6 million short of the $84.7 million salary cap floor.
And oh yeah, the Sixers did all of this in between signing guard Chasson Randle to his second 10-day contract. So, there’s that.
UPDATE: Good tweet, Comcast.
Thanks for the memories. pic.twitter.com/GOGiVXqOjM
— CSN Philly (@CSNPhilly) January 20, 2017
Follow Rich on Twitter: @rich_hofmann
