Trail Blazers Waive Swingman To Get Under Tax

The Portland Trail Blazers were angling to get back under the luxury tax this summer. And despite handing out a $100M contract to Anfernee Simons, it took them just one move to do the trick.

The "waive and stretch" provision means that a team can stretch out payments on a waived player's contract over several seasons.  

In the case of Louzada's $1.88M contract, as noted by NBA Front Office Insider Bobby Marks, the Blazers will stretch out the payments over seven seasons, at a cap hit of $268,032 per season.

The move put Portland under the luxury tax, which allows them to be recipients of the tax distribution awarded to teams that are below the tax.

The 23-year-old Louzada appeared in only seven games last season for the Blazers, averaging 5.0 points and 2.1 rebounds in 17.4 minutes.