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According to a report, the Golden State Warriors have waived point guard Shaun Livingston. The veteran was owed $2 million, but his contract would be guaranteed at $7.7 million if he were still on the team by Wednesday.
The news was first reported by ESPN’s Adrian Wojnarowski.
Sources: Warriors are waiving guard Shaun Livingston, who is guaranteed $2M of his $7.7M salary for season. Livingston, 33, is determined to continue playing and becomes one more valuable free agent candidate for contenders. He’s won three NBA titles and reached five Finals.
— Adrian Wojnarowski (@wojespn) July 10, 2019
According to The Athletic’s Anthony Slater, the Warriors are stretching Livingston’s contract, meaning the $2 million will be paid out over the next three seasons.
Source: Warriors will stretch Shaun Livingston’s remaining $2 million, so it’ll cost them $666K (plus taxes) each of next three seasons.
— Anthony Slater (@anthonyVslater) July 10, 2019
Stretching Livingston’s contract was necessary for the Warriors, given their financial situation. Had they waived him outright, they would not have been able to stay under the hard cap.
Golden St. will elect to use the stretch provision on Livingston- $666K cap hit over the next 3 seasons. The waive/stretch is necessary for the team to remain below the $138.9M tax apron- $219K below now. https://t.co/S5hqZg0M6l
— Bobby Marks (@BobbyMarks42) July 10, 2019
During the season, Livingston hinted at retirement if the Warriors waived him. However, Wojnarowski reports that he’s committed to playing next season.
The 33-year old played five years with the Warriors, and averaged 5.4 points, 2.0 rebounds, and 2.4 assists per game. He was a key part of three championship teams.
This news has been a foregone conclusion for quite some time, but will still be met with sadness by many Warriors fans.