Originally Posted by Ajar
I believe if he signed for another team at $6M/yr, he would still make his $10.5M, but his new club would pay $6M and Toronto would pay the balance ($4.5M).
Nope. This is how typical waivers work. However, with the amnesty, there is a bidding process. Teams can make blind bids on an amnestied player to take on a fraction or the entirety of their remaining contract - all years must be taken up, but the amount paid is determined by the bid. If Jose is amnestied, all his salary comes off the cap immediately. If he is picked up in bidding for 5 million, his new team pays him 5 million (with a 5 million cap hit) for the remainder of his contract ( in Jose's case, just this year) and the Raptors
pay him the rest of the 10.5 million he is owed (5.5 million).
However, if he clears the bidding with no team taking him, the Raptors
pay his full salary no matter what. He then can sign with a new team as a free agent and bring in two different paychecks - one from the Raptors
for the full 10.5 million, and one from his new team for whatever he signs for.