Back in 2003, as the Nets were looking for a buyer (who eventually became Bruce Ratner), owners Lewis Katz and Ray Chambers decided to buy out Dikembe Mutombo. Mutombo, who had been disappointing in his first year with the team, was owed $37.6 million over two years. His $19.3 million contract in 2004-05 would have been the NBA's second highest.
So, to improve the balance sheets, the Nets bought out the 7'2" center for around $27.5 million, roughly 73 percent of what was owed. That $19.3 million salary would instead be a $14.1 million hit on the salary cap.