Heat waive Jones to free cap space

By foxsports
Published

Forward James Jones has been waived by the Miami Heat, an expected move that provides the team with more money to spend during free agency.

Jones had a partially guaranteed contract for 2010-11 that was only guaranteed for $1.9 million through Wednesday. After that, it would have been guaranteed at $4.6 million

He agreed to spread part of the buyout over the next three years, which frees up about an extra $400,000 off Miami's salary cap for 2010-11. The Heat wanted the cap room to use in efforts to lure free agents once the negotiating period opens at 12:01 a.m. Thursday.

Jones averaged 4.1 points in 36 games this season.