The Washington Wizards have decreased their salary cap figure by more than $8 million after reaching buyout agreements with guards Marcus Smart and Blake Wesley, NBA cap expert Keith Smith of Spotrac reported. This move reflects the franchise’s effort to manage its finances amid a challenging roster situation.
Smart agreed to relinquish $6.8 million of his $21.6 million salary, while Wesley gave up $1.38 million of his $4.7 million contract. As a result, the combined cap hit of these two players has dropped from $26.3 million to $18.1 million.
New Team Destinations and Contract Details for Smart and Wesley
Marcus Smart is expected to sign a two-year, $10.5 million contract with the Los Angeles Lakers once he clears waivers, while Blake Wesley has already joined the Portland Trail Blazers. These departures mark a significant change in Washington’s guard rotation.
Despite these moves, the Wizards remain over the salary cap and now carry approximately $153.8 million in total salary, positioning themselves well below the $187.9 million luxury tax threshold and nearly $39 million under the first apron. This financial status offers some strategic flexibility.
Wizards’ Financial Position Enables Trade Flexibility
While the Wizards may not compete for top-tier free agents this offseason, their salary cap status makes them an attractive partner for other teams looking to offload contracts or arrange complex trades. Washington could play a key role in facilitating deals that involve draft picks or younger players in exchange for taking on additional salary.
The Wizards also have several exceptions available: the full non-taxpayer mid-level exception at $14.1 million and trade exceptions worth $13.45 million and $9.9 million. Although these exceptions cannot be combined to pursue a marquee free agent, they provide room to absorb smaller contracts individually.
Outlook for the Wizards’ Roster and Future Moves
With the cap reduction and exception assets, the Wizards are positioned to engage in opportunistic moves rather than aggressive spending or major signings. Their likely focus will be on facilitating trades and taking advantage of financial flexibility as they adjust their roster.