The move was needed in order to get under the luxury tax threshold.
Dampier was in the last season of a 7-year $73 million contract and was owed $13 million this year, however, the $13 million was not guaranteed because Dampier didn’t meet playing time requirements.
The Bobcats explored trade possibilites that would bring the team a point guard, but the team couldn’t find any takers that would have kept the team below the luxury tax threshold of $70.3 million this season.
After dropping Dampier, the Bobcats are about $5 million short of the threshold.
