Originally Posted by DanH
Yep. It is possible the player accepts a buyout below the full amount, which would reduce his cap hit, but it is rare.
Also possible, but rare, is that the waived player gets picked up on waivers, and another team assumes his contract, thus removing his cap hit.
thanks, I wasn't sure if waiving has any impact on the luxury bill, would have been nice to be able to waive a guy and at least not have to pay luxury premium on his contract. You'd think paying a guy to stay home is punishment enough ...