According to Ananth Pandian of CBS Sports, the Milwaukee Bucks and Larry Sanders have agreed to a buyout.
After Larry Sanders said that he was not happy playing basketball and wanted out, the two parties got together to work on a buyout. They have finally agreed to a buyout that will pay Sanders $1.9 million over the next seven years. So, while Sanders may not play in the NBA ever again, the Bucks will continue to have him on the books until 2022.
The Bucks have decided to use the NBA’s stretch provision to pay Sanders, via Gery Woelful of the Racine Journal Times:
In recent days, league sources claim the Bucks will use every year they are allotted under the NBA’s “stretch provision.” And that means the Bucks will pay Sanders in annual increments of approximately $1.9 million over a seven-year period. That amount will be applied to the Bucks’ salary cap each season through the 2021-2022 season.
The stretch provision allows teams to make their payments for twice the number of years remaining on a contract, plus an additional year. Sanders has three years remaining on his contract.
The Detroit Pistons also used this stretch provision when they waived Josh Smith. Even though these teams might be spending money on a player who’s not there anymore, it gives them wiggle room to still sign other players and let them build.
It was obvious that Larry Sanders wanted out even before he came out with the video about his happiness. Parting ways is definitely the best move for both parties, but they might have to still have some awkward chats until 2022.