Knicks interim general manager Glen Grunwald called the move to waive veteran Chauncey Billups part of “the nature of the business.”
“We didn’t want to get rid of Chauncey,” Grunwald said. “When I talked to him today I told him, ‘Chauncey it’s not like we’re waiving you because we don’t want you. Look at it for what it is; we traded you basically for the starting center on the NBA championship team.’ ”
The Knicks used the amnesty clause on Billups to create cap space needed to acquire Tyson Chandler.
Billups was under contract for $14.2 million. Under the terms of the amnesty rule, teams below the salary cap will now be permitted to bid for Billups' services. If no team claims him, Billups becomes an unrestricted free agent.
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