The Nets announced Saturday that they have waived guard Edmond Sumner, the latest of several salary-shedding moves the team has made this offseason.
By waiving Sumner, the Nets freed up $2.2 million in salary as they look to remain under the $165.2 million luxury-tax threshold.
Sumner played 53 games last season with 12 starts and averaged 7.1 points. He was signed by the Nets after missing the entire 2021-22 season because of a torn Achilles.
The Nets are looking to stay below the tax after being over it the past three seasons. As a repeat offender — meaning they’ve been above the tax three of the past four seasons — they’ll pay stiffer fees if they’re over the tax again by the end of next season.
With Sumner waived and forward Darius Bazley agreeing to a one-year deal, the Nets remain about $9.8 million under the tax.
The waiving of Sumner comes after the Nets traded Joe Harris and Patty Mills, which freed up $26.7 million in salary. The Nets, who have one open roster spot, also signed Dennis Smith Jr. and Lonnie Walker IV to one-year veteran minimum deals, according to Spotrac.
Nets reach Summer semi
The Nets (3-1) reached the NBA Summer League semifinals in Las Vegas by having the highest point differential of teams with a similar record. As the No. 4 seed, they’ll face the No. 1 seed Cavaliers (4-0) on Sunday (4 p.m., ESPN) at Thomas & Mack Center.
The Cavaliers beat the Nets, 101-97, on July 7 to open Summer League play. The Nets won three consecutive games after that.
The winner will play in Monday’s championship game against the winner of the second semifinal between Utah and Houston.