If Alonzo Gee remained on the Nuggets past January 10th, his contract would have been fully guaranteed. By waiving him, the Nuggets gain an empty roster spot and only take a 435K cap hit. This is not necessarily a move to set up a trade as most Nuggets fans are anticipating.
Official Nuggets’ press release:
Denver, Jan. 6, 2017 – The Denver Nuggets have waived forward Alonzo Gee, General Manager and Executive Vice President of Basketball Operations Tim Connelly announced today.
Gee, 6-6, 225, signed with Denver on Nov. 16, 2016, appearing in 13 games and averaging 1.1 rebounds in 6.9 minutes. The seven-year NBA veteran has appeared in 417 career games (213 starts) for Washington, San Antonio, Cleveland, Portland, New Orleans and Denver posting averages of 6.6 points, 3.3 rebounds and 1.1 assists in 21.8 minutes.