Lakers Won’t Use Stretch Provision on Nash

The deadline for the Lakers to use the “stretch” provision on Steve Nash passed over the weekend.

The 40-year-old point guard is heading into his third year with the team, earning $9.7 million for the 2014-15 season.

Had the Lakers waived Nash prior to September, they would have been able to stretch his salary over the next three years at around $3.2 million annually.

The team considered increasing its spending power by stretching Nash’s salary, but when its top free-agent targets (LeBron James, Carmelo Anthony and Chris Bosh) signed elsewhere, the Lakers chose instead to protect their cap space over the next two summers — sticking with the NBA’s oldest player for a final season.

via Eric Pincus of the Los Angeles Times