Lakers decide to waive Metta World Peace

The Los Angeles Lakers made the expected official and used the amnesty provision on veteran forward Metta World Peace.

The Lakers must pay the remainder of his salary but the remainder of his $7.7 million salary in 2013-14 will not count against the salary cap. Because the Lakers are already over the luxury tax for next season, the decision to waive World Peace with the amnesty clause will also reduce the Lakers' tax bill.

"It's tough to say goodbye to a player such as Metta, who has been a significant part of our team the past four seasons. For anyone who's had the opportunity to get to know him, it's impossible not to love him," Lakers general manager Mitch Kupchak said in a statement. "He has made many contributions to this organization, both in his community work as well as in our games; perhaps no more so than in his clutch play in Game 7 of the 2010 NBA Finals in helping to lead us over the Celtics in one of the greatest playoff wins in Lakers history. We thank Metta for all his contributions and wish him the best of luck in the future."

Since the Lakers already are over the luxury tax for next season, the decision to waive World Peace will reduce their tax bill by more than $10 million.

Non-taxpayer teams can now bid for his services and the team with the highest bid will acquire him. If no team bids for him, he can sign with the team of his choice.

The amnesty deadline for this year is July 16, and 18 teams have used the provision, which was part of the 2011 collective bargaining agreement. World Peace will be a valuable addition for a team. Last season, he averaged 12.4 points, five rebounds, 1.6 steals and 1.5 assists. It will be an especially strong acquisition if World Peace lands with a contender.

World Peace, a versatile forward, spent four seasons with the Lakers and helped them to back-to-back titles in 2009 and 2010. He was instrumental in Game 7 of the 2010 Finals against the Boston Celtics, finishing with 20 points, five rebounds and five steals.

USA TODAY Sports reported earlier this week that World Peace is interested in joining a contender – namely the New York Knicks, Los Angeles Clippers, Brooklyn Nets, Chicago Bulls, Miami Heat, Oklahoma City Thunder, San Antonio Spurs or Indiana Pacers. He is not interested in joining a rebuilding team.