Wolves to buy out the final season of Anthony Bennett's rookie contract

[benji]

http://sports.espn.go.com/nba/story/_/i ... ny-bennett

The Timberwolves intend to buy out the former No. 1 overall pick's contract after being unable to secure a trade partner to take him, a league source told ESPN's Chris Broussard.

The move would cut ties with the disappointing forward and top-of-the-draft bust just more than a year after Bennett was acquired from the Cleveland Cavaliers, and would give the Timberwolves an extra roster spot and added flexibility with the salary cap.

If he clears waivers, as expected, the 22-year-old Canadian, who was due $22.6 million over the final three years of his contract, would become an unrestricted free agent.

Those "final three years" are actually this season, a team option and qualifying offer. I assume because of how rookie contracts work they have to buy those years out.

[Andrew]

It's arguably still early days, but at this point, is he a strong contender for worst first overall pick of all-time? LaRue Martin probably holds that dubious distinction right now, but if Bennett can't latch on elsewhere, having played only two years in the league to Martin's four, the crown might be his by default.

Some players are late bloomers, and have their struggles early on in their careers before finally finding their niche, even if isn't quite as glamorous as their place in the Draft would suggest. Maybe it is too soon to write Bennett off, with that in mind. Still, those players usually show some proverbial flashes of brilliance, promise that with hard work and the right opportunity, they'll make something of themselves eventually. Even Greg Oden had his moments on the rare occasions that he was healthy, demonstrating that even if he wasn't the number one player in the Draft, he could've been a key contributor if not for the injuries. Bennett's shaping up to be a complete bust.

[mp3]

To crazy to think that the number one pick just TWO years ago will be on his 3rd team but I honestly feel it's the best foot forward for him now!

Philly and Portland are said to be ready to bid for his services in waivers.

[Andrew]

He might be one of those players that just needs time, and to land in the right situation. I certainly don't want to write him off at the age of 22, but it's been a very rough start for him.

[NovU]

Performance with Team Canada probably extended couple more years to NBA career. That's about it though. I think he just doesn't have it to last in this league.

[Stress Fracture]

Those "final three years" are actually this season, a team option and qualifying offer. I assume because of how rookie contracts work they have to buy those years out.

Why the buyout on the next two? They're basically unguaranteed, right?

[benji]

Okay, it's because the team option goes with him if another team claims him. So say, the Rockets, could pick him up off waivers and they're still able to pick up the option year. I figured it had to be something with the rookie deals since they're set in stone. I imagine they're buying him out for much less than that $22 million though. Closer to $12 million I suspect.

First rookie to get bought out since they put in the scale I think. Usually teams just bury them until they expire. Wolves had 16 guaranteed contracts.

[Axel]

Philly is the usual landing spot for young players who other teams have given up on. I don't see Bennett getting playing time over Noel or Okafor though, and they still have Embiid.

We may not need to wait any longer before declaring him worst draft pick of this century.

[air gordon]

Last year there as an article about him you thought would come from the "onion".

It was basically the Ricky Vaughn story from the movie major league- wonderful pitching talent but had a major control problem. It was only by accident the coach figured out he needed glasses

I hope it's a happy ending for Bennett too.

Maybe he'll latch on to a team like Cleveland and do well

[[Q]]

There were differing reports about whether he got bought out (does not count towards cap) or waived (salary counts towards wolves cap)

What happened here?

[mp3]

Buyout Eric...

Or at least that's what 70% of the net are saying.

[NovU]

First rookie to get bought out since they put in the scale I think. Usually teams just bury them until they expire.

This makes it more embarrassing for Anthony Bennett since rookie contracts are considered gold in this era.