The Washington Wizards recently reached buyout deals with guards Marcus Smart and Blake Wesley, cutting over $8 million from their salary obligations.
According to Keith Smith of Spotrac, Smart gave up $6.8 million of his $21.59 million contract, and Wesley gave up about $1.38 million of his $4.73 million deal. As a result, the two now count for about $18.13 million on the Wizards’ salary cap instead of the original $26.31 million.
Smart plans to join the Lakers on a two-year, $10.5 million contract once he clears waivers.
Wesley’s next destination was unclear, but he must have had another opportunity lined up to agree to a buyout. [UPDATE: Wesley has since agreed to a one-year deal with the Trail Blazers.]
These buyouts don’t create cap space for the Wizards since they’re still over the cap, but their total salary now stands at around $153.8 million – well below the luxury tax threshold ($187.9 million) and nearly $39 million under the first tax apron ($195.95 million), after factoring in Khris Middleton’s unlikely incentives.
This added salary flexibility positions the Wizards to act as a helpful third team in trades, especially for other teams trying to offload contracts. If those deals come with perks like draft picks or promising young players, Washington would likely be open to taking them on.
The Wizards also still have their full $14.1 million non-taxpayer mid-level exception available, as well as two trade exceptions worth $13.45 million and $9.9 million.
While these exceptions can’t be combined to acquire a single high-salary player, they could be used separately to absorb multiple contracts.
The Wizards gained some cap relief via buyouts: https://t.co/yb81RjeGPb
— Hoops Rumors (@HoopsRumors) July 22, 2025
