The Indiana Pacers will waive James Posey under the amnesty clause, reports Yahoo!'s Adrian Wojnarowski. Posey is due just $7.6 million for the 2011-12 season. He will still get paid, but his salary will come off of the Pacers' salary cap sheet.
The Pacers had plenty of cap space as free agency opened on Friday, but used $10 million of it on free agent power forward David West, who agreed to a two-year, $20 million deal with Indiana on Sunday. After waiving Posey, the Pacers should have roughly $18 million to play with under the cap, and $6 million in additional salary needed to reach the payroll floor.
The Pacers have been rumored to be involved in trade talks with the Memphis Grizzlies to bring O.J. Mayo to Indiana.
For more on the Pacers, visit Indy Cornrows.
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