Joakim Noah, who had two years left on his deal, has been waived by the Knicks, who will spread out the $37.8M owed to the center over the next three years.
The reigning NBA champion Cleveland Cavaliers owe a league-high $54 million in luxury taxes for spending above the salary-cap threshold for the 2015-16 season, according to sources.
Chandler Parsons is "all ears" as he enters free agency, sources told ESPN, while the Mavericks are prioritizing other potential targets.
The Nets have agreed to trade Thaddeus Young to the Pacers for the 20th overall pick in this year's draft and a future second-round pick, sources confirmed to ESPN.
