Trail Blazers Waive Swingman To Get Under Tax

The Portland Trail Blazers were angling to get back under the luxury tax this summer. And despite handing out a $100M contract to Anfernee Simons, it took them just one move to do the trick.

Sources: The Portland Trail Blazers will use the waive-and-stretch provision on Didi Louzada, @HoopsHype has learned. The move will get Portland under the luxury tax as @BobbyMarks42 noted.
— Michael Scotto (@MikeAScotto) August 29, 2022

The "waive and stretch" provision means that a team can stretch out payments on a waived player's contract over several seasons.

Louzada was on a guaranteed $1.88M contract.

Aug. 31 is the last day to use the waive-and-stretch provision and Louzada would count as $268,032 (over 7 seasons) if they elect to do so.

The move would put Portland under the tax (currently $1.54M over). https://t.co/ngc67rAMAZ
— Bobby Marks (@BobbyMarks42) August 29, 2022

In the case of Louzada's $1.88M contract, as noted by NBA Front Office Insider Bobby Marks, the Blazers will stretch out the payments over seven seasons, at a cap hit of $268,032 per season.

The move put Portland under the luxury tax, which allows them to be recipients of the tax distribution awarded to teams that are below the tax.

The 23-year-old Louzada appeared in only seven games last season for the Blazers, averaging 5.0 points and 2.1 rebounds in 17.4 minutes.