The Portland Trail Blazers have waived forward Andrew Nicholson, using the stretch provision to spread out the salary-cap hit on the remainder of his contract, league sources told ESPN.
The stretch provision saves the Blazers approximately $5.6 million in luxury tax this year.
The Blazers acquired Nicholson in a trade with the Brooklyn Nets for guard Allen Crabbe on July 25.
Nicholson, 27, signed a four-year, $26 million contract with the Washington Wizards in July 2016. Washington traded him to the Nets as part of a February deadline deal for Bojan Bogdanovic. Nicholson has averaged six points and three rebounds per game in his five NBA seasons.
Orlando selected Nicholson with the 19th overall pick in the 2012 NBA draft, and he spent his first four seasons with the Magic. He played his college ball at St. Bonaventure, where he led the Bonnies to an Atlantic 10 championship and the NCAA tournament in 2012.
