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Pistons waive veteran Rip Hamilton

Updated: December 13, 2011, 12:05 AM ET
Associated Press

DETROIT -- The Detroit Pistons finalized what has been a formality, cutting ties with three-time All-Star Richard Hamilton.

Detroit made the move Monday after both sides agreed to terms of a buyout.

Hamilton was due to make $19 million guaranteed over the final two years of his contract in Detroit. He was bought out for $11 million, saving the rebuilding team $4 million in cap space this year and $4 million more next season.

A text message seeking comment was sent to Hamilton ...

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