Wizards likely to match Otto Porter offer sheet after letting Bogdanovic go

The Washington Wizards made a move on Friday that seems to have a more significant meaning.

The Wizards renounced the rights to Bojan Bogdanovic. Bogdanovic is set to sign with the Indiana Pacers on a two-year, $21 million deal, according to ESPN’s Adrian Wojnarowski.

Bogdanovic is a good player and not someone the already depth-deprived Wizards would want to let go. So why are they doing so? They need salary cap space to sign Otto Porter.

Porter signed a four-year, $106 million offer sheet with the Brooklyn Nets. Because Porter was a restricted free agent, the Wizards have the opportunity to match his offer. By shedding Bogdanovic and the salary he commands, the Wizards are freeing up more room for Porter.

Washington is already in a very tough spot with the salary cap and will have to pay into the luxury tax most likely, but at least they will be able to keep Porter, which could help their chances of retaining John Wall long-term.