The Pistons have re-signed center Paul Reed and waived wing Javante McCoy, according to the team’s PR department (Twitter links).
Detroit signed McCoy to a standard, non-guaranteed contract on Sunday. That turned out to be just a stopgap as the Pistons tried to reach the minimum salary floor.
Detroit needed to fill a roster spot after waiving Reed on Saturday because that move dropped the Pistons to $1,417,936 below the minimum salary floor, which they were required to reach by the end of Sunday. The Pistons will now reach the floor by bringing back Reed.
Reed had a $7.7MM salary this season that would have fully guaranteed next month. Instead, he will return as Detroit’s third-string center on a more team-friendly deal. He’ll get the veteran’s minimum, Omari Sankofa of the Detroit Free Press tweets.
Reed, 25, was the 58th overall pick of the 2020 draft out of DePaul. He spent his first four seasons with the 76ers, who waived him in July to create enough cap room to sign all of their external free agents. The Pistons claimed him a couple days later.
While Reed was a rotation regular with Philadelphia last season, averaging 7.3 PPG, 6.0 RPG, 0.8 SPG and 1.0 BPG in 82 games (19.4 MPG). He has appeared in 12 contests this season, averaging 4.8 PPG, 1.9 RPG and 0.8 SPG in 10.4 MPG.
McCoy made $32,596 in less than 24 hours, salary cap expert Yossi Gozlan tweets. The Pistons are the only team with cap room in the league. They now have $14MM in cap room, ESPN’s Bobby Marks tweets.
It’s like that McCoy will just rejoin Detroit’s G League team. The 6’5” McCoy has appeared in 12 games this season for the Motor City Cruise, averaging 14.7 points, 4.4 rebounds and 2.8 assists in 26.1 minutes per game. McCoy is also shooting 51.4% from 3-point range.
Now that is some cap gymnastics
$32K for 24 hours of work, that’s almost as much as an Australian plumber!