The Boston Celtics waived the nonguaranteed contract of recently acquired Donte Greene on Tuesday.
Greene came to Boston last month in a swap with the Memphis Grizzlies in exchange for Fab Melo and cash considerations. The Grizzlies already waived Melo, which means the Celtics sent approximately $1.7 million to Memphis in order to clear a roster spot and dip below the luxury tax line.
Boston now has 14 guaranteed contracts totaling approximately $71.6 million. The luxury tax line is set at $71.7 million for the 2013-14 season.
Avoiding the tax could help Boston avoid looming repeater penalties for taxpayers and puts the team in line for a rebate, as part of the money spent by tax teams is redistributed to non-taxpayers. That's a pretty attractive incentive this season after Boston pumped up the tax bill for the rival Nets when it send Paul Pierce and Kevin Garnett to Brooklyn earlier this summer.
Greene was due to earn $1 million this season. The Celtics could have brought him to camp in order to compete for a spot, but the tax line sealed his fate. Greene is expected to sign in China, his agent told HoopsHype.com.