NBA buyouts take place when a player and NBA team decide to mutually part ways. The player will pay an agreed-upon amount out of his guaranteed salary and will end up in midseason free agency. If a team decided to buy the player, he cannot re-sign or be waived off by the team for at least one year or until his original contract expires. However, most NBA buyouts are for a year as multiyear buyouts are rare. Usually, a veteran player who is ageing or is being traded to a team which will not gain a lot from the trade is on the NBA buyout market. It is a simple deal where the NBA team saves money and player on the NBA buyout market can choose a team for himself through the NBA buyout market.
Usually, the NBA buyout market starts after the NBA trade deadline has passed. The moment the NBA trade deadline ends, teams become aware of who might end up on the NBA buyout market. However, some negotiations regarding midseason free agency start prior to the NBA trade deadline. The unofficial deadline is said to be March 1. If a player on the NBA buyout market joins a team through the mid-season agency after March 1, he does not play in the post-season. If they join a team before the deadline, they can play post-season. However, not all players who end up in mid-season free agency come from buyouts. Since many foreign leagues end before the regular season, players are then free to sign with the NBA.
Currently, only the Atlanta Hawks are below the NBA salary cap, but they are unlikely to sign a player. Most contracts during midseason free agency are worth minimum salary. If a team wants, they can sign any number of players if they have enough roster spots. The Heat and Warriors, who have acquired players via trade this offseason, are the only current exceptions to this. Here are the potential buyout candidates this season.