Arenas Becomes Unrestricted Free Agent
NBA teams were notified after 6 p.m. Sunday that Arenas, released by the Orlando Magic on Friday through the league’s amnesty clause, has cleared waivers, according to NBA front-office sources.
Under the new amnesty provision, teams with salary-cap space have first crack at placing bids on players such as Arenas and New York’s Chauncey Billups once they are released via amnesty.
But Arenas’ agent Dan Fegan, sources said, successfully convinced teams that showed interest in lodging a bargain bid on the former All-Star that Arenas was determined to make his own choice about where he wants to resume his career. It certainly didn’t hurt Arenas’ leverage that he’s still owed a whopping $62.4 million by the Magic, who must pay out that money in exchange for the privilege of wiping Arenas’ contract off their books.