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Lakers waive forward Brian Grant
(AP)
Updated: 2005-08-11 10:24

EL SEGUNDO, Calif. - The Los Angeles Lakers waived forward Brian Grant on Wednesday, taking advantage of a one-time provision to the NBA's new collective bargaining agreement that allows teams to save nearly $30 million in luxury tax penalties.

Grant was part of the trade that sent Shaquille O'Neal to the Miami Heat last July. The Lakers acquired Grant, Lamar Odom, Caron Butler and a future first-round draft pick.

Grant was the Lakers' second-highest paid player after Kobe Bryant and still is owed $29.8 million on his contract.

He averaged a career-low 3.8 points and 3.7 rebounds last season while bothered by chronic tendinitis in his knees. He also had a neck injury in training camp and spent a month on the injured list because of the tendinitis.

The Lakers will have to pay nearly all of Grant's remaining contract, even if the 33-year-old player signs with another team as a free agent. The Lakers will gain no additional salary cap flexibility until after the 2006-07 season, when Grant's contract expires.

By removing Grant's salary from the NBA's luxury tax calculations, the Lakers benefit because the league assesses a dollar-for-dollar penalty for the amount teams spend over the luxury tax threshold, which will be $61.7 million for next season.

"This is a one-time opportunity to take advantage of this situation, and exercising this will give us greater roster flexibility and the ability to improve our team," Lakers general manager Mitch Kupchak said.



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