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Buyout was worth about $3 million

Updated: February 17, 2004, 5:46 PM ET
Associated Press

CHICAGO -- The Chicago Bulls waived guard Jay Williams on Tuesday, two weeks after reaching a contract buyout with the guard whose career is in jeopardy following a motorcycle accident.

Williams

NBA rules require a player to be put on waivers after a team and the player make a settlement on their contract.

The buyout was worth about $3 million. Williams had two more years worth about $7.7 million left on his original deal.

"Jay's accident was tragic and unfortunate. ...

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