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LOS ANGELES -- LOS ANGELES-The Los Angeles Lakers waived Metta World Peace via the NBA's so-called amnesty provision Thursday, a cost-cutting move that could save them about $15 million in luxury taxes.
When Dwight Howard bolted for Houston last week as a free agent, it ensured a roster spot for Pau Gasol but immediately put World Peace, 33, in jeopardy.
With World Peace gone, the Lakers have nine players under contract for about $75 million. After paying almost $30 million in luxury taxes last season, the most in the NBA, they are now about $3 million over the tax threshold for next season.
Earlier Thursday, the Lakers signed Nick Young to a one-year deal worth $1.2 million. An occasional starter with Philadelphia last season, Young is penciled in to start for the Lakers at small forward after averaging 10.6 points in his only season with the 76ers.
Teams that are under the salary cap will be able to submit an undisclosed bid to the NBA to acquire World Peace. If the highest bidder offers $3 million, he goes to that team next season and the Lakers use that money to offset the $7.7 million they still owe him.
After averaging a career-low 7.7 points in 2011-12, World Peace improved under Coach Mike D'Antoni's system last season, averaging 12.4 points.
But he tore cartilage in his left knee in March, returned after only 12 days and was unable to produce after that. He averaged only six points and shot 25 percent in the playoffs.
World Peace has taken to Twitter this week, maintaining his sense of humor. He let the fans know that General Manager Mitch Kupchak had been in touch.
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