Mike Bibby gives up $ 6.2 million in a buyout agreement with Washington Wizards
When Mike Bibby made his debut on Friday with the Washington Wizards, his brother-in-law and Miami Heat’s reserve guard Eddie House burst into laughter, pointing at Bibby's awkward No. 00 jersey.
Bibby on the other hand, glanced at his blue uniform, stared at it, and then shrugged off the moment with a shake of his head.
From the time, the 6ft-2in guard arrived last week in a five-player trade from Atlanta involving Kirk Hinrich, he had no desire to play out the final days of his career on a team that is enduring a process of extensive re-structuring.
The extent of his commitment was showcased on Monday night, when he gave up entire $6.2 million salary next season, rather than stay with the last-place Washington Wizards.
The buy-out with the Washington Wizards gives him a one-day cushion, allowing him to sign with another team in time to be eligible for a playoff roster.
Bibby played only two games for the Wizards in the period following the transaction, during which he scored two points with eight assists.
During that time though, he and his agent David Falk were in constant negotiations with Wizards President Ernie Grunfeld in order to chalk out a release solution. On Monday at the Verizon centre, the trio finally reached a compromise.
The veteran point guard will receive the remainder of his $5.7 million salary for this season, but he gave up the entire earnings of the final season in turn for his freedom. However, Bibby has a chance to make more, should he
sign a prorated minimum deal with his next team.
Although Bibby was not available for comments, his agent said in a telephonic interview
"That shows you how much he wants to win,"
Bibby is not the first veteran to follow this path though. Zydrunas Ilgauskas, he is now a regular starting centre at the Miami Heat, bought out his contract before ever playing a game after he was traded to the Wizards a year
ago. Drew Gooden, the 9th year power forward, also didn't suit up in between his arrival from the Dallas Mavericks and his departure for the Los Angeles Clippers in a pair of trades in 2010. He presently plays for the Milwaukee Bucks.
Bibby who has made it to the play-offs in each of his last nine seasons, has now one day left to join a time with play-off contention. Several franchises like Portland, Miami, Boston, San Antonio, the Los Angeles Lakers and possibly
Denver are believed to be interested in him. Out of these clubs though, Miami Heat stands out to be the favorite to hire his services. Not only will he give the Heat a solid option at point guard, he can also boost their offense with his quality 3-point shooting.
As for the Wizards, the transaction gives them a huge financial boost and they can now consider a variety of options with huge pay-checks in the next season.
"It's gives us unbelievably great financial flexibility next year," the Wizards coach Flip Saunders said. "We're not right now a team that's in a playoff-type situation. I think it's a win-win situation."
For the moment, the Wizards have replaced Bibby with Mustafa Shakur for the remainder of the season.
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