5:54pm: Reed has officially been waived, the Pistons announced in a press release.
2:05pm: The Pistons intend to waive forward/center Paul Reed
, sources tell Shams Charania of ESPN (Twitter link
).
According to Charania, Detroit is releasing Reed with an eye on maximizing its roster and financial flexibility ahead of the Feb. 6 trade deadline. Reed has an unusual contract structure, as his $7.7MM salary for 2024/25 is non-guaranteed , as is his $8.1MM cap hit for ’25/26. Every other player in the NBA whose contract is non-guaranteed this season is either on a minimum-salary deal or very close to it.
The timing of the move almost feels like a precursor to something else. The Pistons didn’t have to make a decision on Reed until Jan. 7, but chose to waive him three-plus weeks early.
Assuming Reed clears waivers, Detroit will carry a $2.48MM dead-money cap hit for having him on the roster the first two months of the season, per ESPN’s Bobby Marks (Twitter link ). The Pistons will soon have approximately $15.5MM in cap space and be about $1.42MM below the minimum salary floor , which they’re required to reach by the end of Sunday, Marks adds (via Twitter ).
According to Marks (Twitter link ), as of Sunday, the prorated portion of the veteran’s minimum is $1.44MM, so Detroit can safely reach the floor by signing a different player tomorrow. Of course, a trade remains a possibility as well.
The Pistons have been carrying an open roster spot to begin the 2024/25 season in order to maintain roster and financial flexibility. Cutting Reed means they’ll have two standard openings, but at least one will be filled in short order.
Reed, 25, was the 58th overall pick of the 2020 draft out of DePaul. He spent his first four seasons with the 76ers, who waived him in July to create enough cap room to sign all of their external free agents. The Pistons claimed him a couple days later.
While Reed was a rotation regular with Philadelphia last season, averaging 7.3 PPG, 6.0 RPG, 0.8 SPG and 1.0 BPG in 82 games (19.4 MPG), he has only appeared in 12 of Detroit’s 26 contests to open ’24/25, averaging 4.8 PPG, 1.9 RPG and 0.8 SPG in 10.4 MPG. He’s been the third-string center behind Jalen Duren and Isaiah Stewart , who shifted back to the middle after spending much of last season at power forward.
The Sixers have an open roster spot and are reportedly looking for frontcourt help, so a reunion with Reed could be possible. However, he’d have to clear waivers first and be willing to sign a minimum-salary deal, which is all Philadelphia can offer.