Wizards buy out Mike Bibby

Great news, Wizards fans! Recently-acquired PG Mike Bibby has agreed to a buyout on terms amazingly friendly to the Washington Wizards.

Obviously, we don't know what the new NBA collective bargaining agreement will look like, but my guess is it will contain a hard salary cap or something very much like it. The Wizards will be one of the few teams in the NBA next season in a position to make major free agent moves even if there is a hard cap.

Kudos to the much-maligned [including by me] GM Ernie Grunfeld for getting this deal done. This is a big win for the Wizards, who were unlikely to get a decent performance out of Bibby anyway. He's basically done as a starter, earns too much to be a backup and didn't want to play in DC in any case.