March 07, 2016
The Sixers announced that they are releasing Wood to make room for journeyman swingman Sonny Weems, waived by the Phoenix Suns a few days ago. Yahoo Sports' Shams Charania was first with the scoop:
Philadelphia plans to claim guard Sonny Weems off waivers and release forward Christian Wood (on 10 day), league sources tell The Vertical.— Shams Charania (@ShamsCharania) March 7, 2016
Like last year’s post-deadline waiver claim of Thomas Robinson, this move is financially motivated. According to Basketball Insiders, the Sixers' total salary was at $60.3 million entering today. If they do claim Weems’ $2.8 million cap hit, the Sixers will nudge over the $63 million salary floor. The floor is the minimum amount of money teams are required to spend on player salaries.
Philadelphia will save $2m by claiming Sonny Weems. The 76ers with the claim will hit the $63m cap floor. https://t.co/Ms3i6qfXEk— Bobby Marks (@BobbyMarks42) March 7, 2016
Reaching the floor late in the game saves the Sixers money because while their books officially say that Weems is making $2.8 million, the team is actually only on the hook for what is owed the remainder of the season. That number is somewhere in the general neighborhood of $648,000.
(Maybe I should get Jimmy to do a stick figure of Sam Hinkie doing some salary cap gymnastics.)
On the surface, it’s hard to imagine that the 29-year-old Weems is in the Sixers’ plans long term. A 39-percent shooter in 2015-16, Weems’ salary is non-guaranteed for the 2016-17 season.
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