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Posted at 03:23 PM ET, 12/09/2011

Orlando Magic use amnesty provision on Gilbert Arenas


(Susan Walsh / Washington Post)
The Orlando Magic have designated Gilbert Arenas as — no surprise — the team’s amnesty player.

The amnesty clause in the new collective bargaining agreement between the NBA and players’ union allows teams to remove the worst contracts from their books and, with around $62 million remaining on his contract, Arenas, a disappointment in Orlando, was a shoo-in for that designation.

The Magic will pay all of the $62 million unless a team puts in a bid for him in a modified waiver-wire process. The remaining money Arenas is owed will come off the team's salary-cap and luxury-tax totals immediately, according to the Orlando Sentinel.

Arenas, a former all-star guard, was shipped from the Washington Wizards to the Magic in exchange for Rashard Lewis in December 2010.

By  |  03:23 PM ET, 12/09/2011

 
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