Hornets Waive Reggie Jackson, Agree To Buyout

The news was first reported by Rod Boone of the Charlotte Observer

Feb 23, 2024; Portland, Oregon, USA; Denver Nuggets point guard Reggie Jackson (7) drives to the basket against Portland Trail Blazers forward Kris Murray (8) during the second half at Moda Center. Mandatory Credit: Soobum Im-USA TODAY Sports / Soobum Im-USA TODAY Sports

The Charlotte Hornets have waived Reggie Jackson after agreeing to a contract buyout, as first reported by Rod Boone of the Charlotte Observer. Jackson had one-year $5.25 million left on his contract, but will likely have given up between $2-3 million to become an unrestricted free agent.

#Hornets are waiving Reggie Jackson, league sources told @theobserver. Story: https://t.co/c3xvjFZaOk

— Rod Boone (@rodboone) July 23, 2024

Adrian Wojnarowksi has reported that Jackson will sign with the Philadelphia 76ers, joining friend and ex-teammate Paul George. Jackson will join Kyle Lowry, another veteran to recently be waived by Charlotte, to provide veteran depth to Philadelphia's backcourt.

ESPN Sources: Veteran guard Reggie Jackson — who agreed on a contract buyout with the Charlotte Hornets — plans to join the Philadelphia 76ers upon clearing waivers. pic.twitter.com/uWaWGdB5Dk

— Adrian Wojnarowski (@wojespn) July 23, 2024

Analysis

By waiving Jackson, the Hornets open up a 15th roster spot. They could choose to add a free agent, or keep the roster spot open heading into the season to give them increased trade flexibility. Under the new CBA, the Hornets could absorb a player earning under $8 million into their Room Exception in return for future draft capital. Now the NBA has new stringent penalties for teams exceeding the first and second apron, the Hornets could be well positioned to take advantage of teams looking to cut costs.

READ MORE ABOUT THE HORNETS

Zach Lowe Tabs the Hornets a "Sleeping Giant"

Hornets Cruise Past Brooklyn in Summer League Finale

Brandon Miller Believes the Hornets Are a Playoff Team