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Carlos Boozer is moving to Los Angeles. The Lakers submitted the winning bid for Boozer for $3.25 million.
Boozer will be a replacement for Pau Gasol, who signed with Boozer’s former team the Chicago Bulls in free agency.
That means Lakers acquire Boozer's expiring contract and Chicago is on the hook for the rest of Boozer's salary in 2014-15: $13.6 million
— Marc Stein (@ESPNSteinLine) July 17, 2014
The Chicago Bulls officially ended the Carlos Boozer era, using their amnesty provision on the former All-Star forward on Tuesday. The move carves out enough cap space for Chicago to make additional moves this offseason.
Boozer, 32, was heading into the last year of his five-year, $75 million deal that he signed with Chicago in 2010.
This amnesty provision was put into the most recent collective bargaining agreement to help owners avoid strenuous luxury tax charges. It allows teams to release one player who was signed before the previous CBA expired and have their cap number wiped away.
Chicago will save $16.8 million on its cap by waiving Boozer, according to Spotrac.com. The Bulls will still be forced to pay Boozer’s salary but it will not count for tax purposes.