Stamps waive Paul Reed | Hoops Rumors

17:54: Reed has officially been waived, the Pistons announced in a press release.

14:05: The Stamps intends to waive forward/center Paul Reedsources tell ESPN’s Shams Charania (Twitter link).

According to Charania, Detroit is releasing Reed with an eye toward maximizing its roster and financial flexibility ahead of the Feb. 6 trade deadline. Reed has an unusual contract structure, as his $7.7MM salary for 2024/25 is non-guaranteed, as is his 8.1MM cap hit for ’25/26. Every other player in the NBA whose contract is not guaranteed this season is either on a minimum wage deal or very close to it.

The timing of the move almost feels like a precursor to something else. The Pistons didn’t have to make a decision on Reed until Jan. 7, but opted to waive him three-plus weeks early.

Assuming Reed clears waivers, Detroit will carry a $2.48MM dead-money cap hit to have him on the roster for the first two months of the season, according to ESPN’s Bobby Marks (Twitter link). The Stamps will soon have approximately $15.5 million in cap space and be about $1.42 million under the minimum salary floor they are required to reach by the end of Sunday, Marks adds (via Twitter).

According to Marks (Twitter link), as of Sunday, the pro-rated portion of the veteran’s minimum is $1.44MM, so Detroit can safely hit the floor by signing another player tomorrow. A trade is of course also an option.

The Pistons have had an open roster spot to begin the 2024/25 season to maintain roster and financial flexibility. Cutting Reed means they have two default slots, but at least one will be filled in no time.

Reed, 25, was the 58th overall pick in the 2020 draft out of DePaul. He spent his first four seasons with the 76ers, who waived him in July to create enough cap space to sign all of their outside free agents. The Pistons claimed him a few days later.

While Reed was a rotation fixture with Philadelphia last season, averaging 7.3 PPG, 6.0 RPG, 0.8 SPG and 1.0 BPG in 82 games (19.4 MPG), he has only appeared in 12 of Detroit’s 26 contests to open ’24/25, averaging 4.8 PPG, 1.9 RPG and 0.8 SPG in 10.4 MPG. He has been the third-string center back Jalen Duren and Isaiah Stewartwho switched back to center after spending much of last season at power forward.

The Sixers have an open guard spot and are reportedly looking for frontcourt help, so a reunion with Reed could be possible. However, he would first have to clear waivers and be willing to sign a minimum salary deal, which is all Philadelphia can offer.