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Timberwolves waive Milicic with salary cap exemption

Associated Press

7/12/2012 3:26:09 PM

MINNEAPOLIS -- The Minnesota Timberwolves have waived centre Darko Milicic and submitted a formal offer sheet in an attempt to sign Portland forward Nicolas Batum.

Milicic received the amnesty designation Thursday, a one-time provision allowing a team to let a player go without his remaining contract counting against the league's salary cap or luxury tax.

Owner Glen Taylor said the team expected Batum to sign the offer Thursday. Taylor also said the Wolves would continue to talk about a sign-and-trade option for acquiring the restricted free agent.

Batum's agent said last week he and the Wolves agreed to terms on a four-year, $45 million deal with bonuses that could push the value past $50 million. Blazers general manager Neil Olshey said Wednesday he'll match any offers for Batum.