The Portland Trail Blazers have waived guard Didi Louzada, the organization announced on Twitter today.
According to Michael Scotto of Hoops Hype, the Blazers will use the waive-and-stretch provision on Louzada. This means Louzada’s $1.88 million contract will be paid in $268,032 increments over the next seven seasons, as ESPN’s Bobby Marks broke down. The move will put Portland under the luxury tax, giving the organization access to the tax distribution awarded to teams below the tax.
Marks noted that number sits at a league-record $16.5 million per team, though it’ll likely drop over the season.