Houston has reportedly won the derby to ink the former Pistons forward, who was unceremoniously released by Detroit despite having $27 million left on his contract.
Pistons release Josh Smith
Raj Mehta-USA TODAY SportsThe Detroit Pistons have waived forward Josh Smith, the team announced on Monday.
According to Vincent Goodwill of the Detroit News, the Pistons will use the stretch provision on Smith. Smith signed a four-year, $54-million deal in July, 2013, and is still owed around $26 million. By using the stretch provision, Detroit is allowed to spread out Smith’s remaining salary over the next five years (twice the time left on the contract, plus one season) starting next season. That will come out to $5.4 million per year, creating $8.1 million in cap room over the next two seasons.
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