LOL! Kemp waived from Blazers???

[LakerMania]

WTF!

PORTLAND, Ore. (AP) -- Shawn Kemp, the former NBA All-Star whose career has crumbled because of weight and drug problems, will be waived Tuesday by the Portland Trail Blazers, The Oregonian reported in its Tuesday edition.

Stunningly, Kemp has agreed to forfeit more than $25 million of the $46.5 million left on his contract, the newspaper said.

In the agreement, the Blazers will pay Kemp about $20 million over more than 10 years.

It is unknown why Kemp would agree to give up $25 million of his guaranteed contract, and his agent and attorney did not return phone calls to The Oregonian.

The Blazers, through spokesman Mike Hanson, also did not comment Monday.

The move has important financial implications for the Blazers, with the team likely to save at least $40 million in NBA luxury taxes.

Cleveland coach John Lucas, who has counseled Kemp in recent years, said he was shocked at the news.

"It's not often you hear of players giving back money, especially one of this magnitude," Lucas said. "It's a statement for the player, just in the regard that he is willing to give back a year of his money."

Kemp, 33, signed a seven-year, $107 million contract in 1997 before he was traded from Seattle to the Cleveland Cavaliers, then traded to the Blazers before the 2000-01 season.

He never regained his All-Star level of play in Portland, averaging 6.3 points in two seasons.

Kemp entered a drug rehabilitation center for cocaine use in April 2001, near the end of his first season as a Trail Blazer. He returned for the 2001-02 season but was suspended for five games in February for failing to comply with his aftercare program.

Kemp appeared in six consecutive All-Star Games from 1993-1998, five with the Seattle SuperSonics and one with the Cavaliers


All I can say is..............BWAAAAHHHAHHAAAAA!

[Drbio]

Rumor (only) from another site said he got pinched with drugs and that the team was going to try and void his contract.

[pepperfletch]

Well for whatever reason, HE GOT A GREAT DEAL. 20 million to eat on....or get high on....with no work.

[Drbio]

I can't figure out Portlands advantage in this deal. That 20 mil goes against there cap. If they had voided the contract, it would not have counted. Why pay the guy if the rumor is true?

[The Crippler]

I bet he was buying his weed from damon s.

[TheKid]

I can't figure out Portlands advantage in this deal. That 20 mil goes against there cap. If they had voided the contract, it would not have counted. Why pay the guy if the rumor is true?

It would have to go to an arbirtrator who would have to decide if they could void his contract IF they did not have definitive evidence that he was doing drugs. If that happened, they could have either paid the entire contract or paid nothing but it was probably a risk so they decided to pay out $20 mil instead of gambling and paying out almost $50 mil.

[Rhylan]

The way it works with the cap is that the amount of the buyout is prorated for each year remaining on the contract. Kemp had two more years remaining. So, with the $20 mil buyout, he only counts $10 mil against Portland's cap for each of the next two years, rather than the $21 and $23 mil or whatever it would have been this year and next.

[Drbio]

But if he got caught red-handed and the contract was voided he would count $0 and $0 against the cap wouldn't he?