[Saba Sports News] The Rockets have reached a buyout agreement with 21-year-old forward AJ Griffin, who is expected to take a break from basketball, according to Shams of The Athletic.
(Source: Getty Image)
A source familiar with the situation said Griffin’s buyout was worth $250,000, according to Houston Chronicle veteran reporter David Fagan. Griffin has two years left on his original contract, with a $3.89 million salary for 2024-25 (with a team option exercised) and a $5.97 million option for 2025-26.
According to sports salary website Spotrac’s expert Keith Smith, Griffin gave up most of his salary in a buyout with the Rockets, which resulted in a $250,000 buyout. The buyout will count toward the Rockets’ salary cap, which is currently about $10.5 million below the luxury tax line ($170.814 million for the 2024-25 NBA season).
Dead money is the amount a team must pay after buying out or cutting a player and cannot trade. It is the money a team pays for players who are no longer playing. The move will give the Rockets more flexibility in payroll management.