Here is how the Blake Griffin contract buyout works
Blake Griffin has cleared waivers after reaching a buyout with the Detroit Pistons. He reportedly is now expected to sign with the Brookly Nets.
Many are wondering how things are working regarding Griffin’s contract now that he’s been bought out. So we will explain that.
Griffin signed a 5-year, $171 million contract with the Clippers in 2017. The team went all-out to re-sign him, only to trade him to Detroit later that season.
Griffin’s career in Detroit did not work out as he was bothered by knee injuries and no longer is the dominant player he used to be.
This season, Detroit is out of the playoff race. Griffin has not played well but is still making $36.8 million. The Pistons aren’t noticeably better off with him, so they decided to waive him after he agreed to a discount.
Griffin gave back $13.3 million to Detroit as part of the buyout agreement.
So instead of paying Griffin the full $36.8 million he was owed this season, they won’t have to pay him around $4.3 million based on the amount he is giving back (via Spotrac). For next season, instead of owing him $38.9 million, the Pistons won’t have to pay Griffin around $8.7 million. This helps them with their salary cap situation.
Griffin will end up making the minimum from the team with whom he signs for the rest of the season.
Detroit was on the hook for $75.7 million owed to Griffin this season and next, no matter what. At least this way, they get a slight amount of savings to eat his contract and let him go sign elsewhere.