The Los Angeles Lakers waived Metta World Peace via the so-called amnesty provision Thursday, a cost-cutting move that could save them about $15 million in luxury taxes.
When Dwight Howard bolted for Houston last week as a free agent, it ensured a roster spot for Pau Gasol but immediately put World Peace, 33, in jeopardy.
With World Peace gone, the Lakers have nine players under contract for about $74 million. After paying almost $30 million in luxury taxes last season, the most in the NBA, they are now barely $2 million over the tax threshold for next season.
Earlier Thursday, in a move that basically guaranteed the end of World Peace’s four-year Lakers run, free agent Nick Young signed a one-year deal for $1.2 million to join the team.
Young, 28, is a shoot-first, pass-last player who gets penciled in to start for the Lakers at small forward after averaging 10.6 points and shooting 41.3 percent last season with the Philadelphia 76ers as an occasional starter.
“It’s great for Nick and great for the Lakers,” Young’s agent, Mark Bartelstein, said Thursday. “He could’ve waited and got more money in the free-agent market but his dream has always been to play for the Lakers.”
TIMBERWOLVES: Have acquired guard Kevin Martin from the Oklahoma City Thunder in a three-team trade sending guard Luke Ridnour to the Milwaukee Bucks.
The framework of the deal was agreed to earlier in the week, and the Wolves announced it was finalized on Thursday night.
The Bucks get Ridnour, another veteran who was playing out of position at shooting guard, and a 2014 second-round draft pick from the Wolves.
The Thunder get the draft rights to Szymon Szewczyk from the Bucks, and they sent an undisclosed amount of cash to both the Wolves and the Bucks.
NETS: Have agreed to a contract with forward Andrei Kirilenko, another strong addition for a team that has loaded up on talent this offseason.
Kirilenko accepted the taxpayer’s mid-level exception worth about $3.2 million this season.
The Russian forward opted out of his $10.2 million deal for next season with the Minnesota Timberwolves and found a home with the Nets - owned by fellow Russian and former CSKA Moscow owner Mikhail Prokhorov.
MAVERICKS: Have signed free-agent point guard Jose Calderon.
Agent Mark Bartelstein said last week the contract was worth $29 million over four seasons.
The 6-foot-3 Spaniard led the NBA in 3-point shooting at 46 percent last season. He had spent his entire eight-year career with Toronto before going to Detroit in a three-team deal.
Calderon played in Spain for six seasons before coming to the NBA.
He has career averages of 10.1 points and 7.2 assists and is a 40 percent shooter from 3-point range.