Larry Sanders, Bucks Agree to Buyout

Larry Sanders and the Milwaukee Bucks have agreed to a buyout, according to sources. Sanders was owed $36 million from the Bucks, but agreed to a buyout that will pay him just $15 million over the next seven years. He left $21 million on the table, and now his cap hit should decrease from $11 million to $2.14 million.

Sanders had been reinstated by the NBA so he was allowed to rejoin the Bucks and play, but he didn’t have any interest in doing so. Because he wouldn’t report, that gave the Bucks leverage in their buyout talks and allowed them to pay Sanders just $15 million of the $36 million he was owed.

Sanders will become an unrestricted free agent, but sources close to the situation say that it’s unlikely he’ll join a new team in the near future. With that said, expect a number of teams to reach out and do their due diligence. It’s possible that Sanders will resume his NBA career at a later date once he has gotten his personal life in order.

via Basketball Insiders