One of the first moves by the Los Angeles Lakers in what became a very busy stretch of days was to waive Quinn Cook, bringing his $3 million salary down to just $1 million guaranteed.
With L.A. triggering the hard cap via the bi-annual exception given to Wesley Matthews, they were reported as using the waive-and-stretch provision on the $1 million. Instead of paying the full amount this season, they would owe Cook $333,333 each of the next three seasons.
That was seen as having saved the Lakers $666,667 towards the hard cap. Following this decision, the Lakers were able to trade JaVale McGee and waive one of the two players they received in exchange, Jordan Bell.