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Raptors Place Marcus Camby On Waivers

The Official Toronto Raptors Media Relations Twitter account has announced that the Raptors have agreed to a buyout with forward/center Marcus Camby and placed him on waivers. If Camby is not picked up by another team over the next 48 hours, he will become an unrestricted free agent.

Camby had signed a three-year with the Knicks on July 11, 2012 for $13 million, however, the final season was only guaranteed for $1 million. Camby was included in the trade for the Raptors Andrea Bargnani to meet the requirements of the league’s CBA and it was not expected that he would ever report to Toronto.

It is assumed the buyout negotiated between Camby and the Raptors will take into account that Camby intends to sign a new deal with a contending team for the 10-year veteran’s minimum salary of $1.4 million. Therefore his buyout would be reduced from $4.4 million representing this year’s salary to approximately $3 million providing the Raptors a little more flexibility this summer.