Veteran point guard Derrick Rose won’t receive any of his $3,356,271 salary for the 2024/25 season after being waived by the Grizzlies, reports Tim MacMahon of ESPN (Twitter link). According to MacMahon, the full amount will come off Memphis’ books, leaving the team with no cap hit for Rose.
It’s a little surprising that Rose – who will turn 36 next Friday and has been limited to 77 total games over the past three seasons due to injuries – would opt to forfeit a guaranteed $3.3MM+ salary. However, it was reported at the time of his release on Monday that the Grizzlies were letting him go at his request, so it makes sense that the team wasn’t prepared to grant that request and pay him his full salary.
Getting that $3.36MM off the books is important for the Grizzlies, given their proximity to the luxury tax line. Without a cap hit for Rose, Memphis is now approximately $5.98MM below the tax threshold with 13 players on standard contracts. Rose’s buyout will allow the club to carry a full 15-man roster without going into the tax — with his contract on the books, the Grizzlies would’ve gone into tax territory by signing two new players to minimum-salary deals.
That doesn’t mean the Grizzlies will definitely make two roster additions in the coming weeks, as carrying a 14-man standard roster into opening night in order to create some additional in-season flexibility remains an option for the team. However, that extra financial breathing room should come in handy sooner or later. It also gives Memphis the option of using a portion of its mid-level exception to offer more than the veteran’s minimum to a 14th man without going into the tax.
Rose is the second player in 2024/25 to give up his entire remaining salary as part of a buyout agreement. Sasha Vezenkov surrendered his $6.66MM salary with the Raptors in order to return to Europe on a lucrative long-term deal with Olympiacos.
Bulls ……. retire a bull .
Mentor Josh. It’s the right thing.
Not as player,but as coaching staff
NYK have about 7.5 mm in space below their hard cap, and the ability to use the Txp MLE to fill about 5.2 mm of it. Unlikely, but if they were to sign Rose for that amount, then, in January (after 3 months), he could be aggregated in a trade with the expiring deals of Achiuwa (6.0 mm) and KBD (2.6 mm), and get the outgoing salaries to the point that we could bring back a 13 mm+/yr. C, cap-wise anyway. Going from 8 mm+ to 13 mm+, more guys become possibilities.
Can people not read? He literally chose to give up money, to leave the team. Do you all really think he even still wants to play basketball?
Yes we can read, my young one… we are reading between the lines…. Where we feel that, at 36 years old, there may be another team that he’d like to play for before he retires.
There is a distinct possibility that he chooses to retire, it’s very true…. But I don’t think we can necessarily jump straight to that conclusion.
Are you reading between the lines? Because the man could’ve requested a trade if he wanted to retire elsewhere instead of leaving money on the table…..
Btw guess who just retired today….lol any sports fan could see that obviously happening