Kyle Lowry agrees to buyout with Hornets, plans to sign with 76ers

Kyle Lowry agrees to buyout with Hornets, plans to sign with 76ers

Nearly three weeks after getting traded from the Miami Heat to the Charlotte Hornets, Kyle Lowry has agreed to a buyout with Charlotte and will plan to sign with the Philadelphia 76ers upon clearing waivers, ESPN NBA insider Adrian Wojnarowski first reported Saturday evening.

His new contract with Philadelphia will be worth $2.8 million for the remainder of the season, according to Wojnarowski.

Charlotte Hornets G Kyle Lowry has agreed on a contract buyout, clearing the way for him to sign with the Philadelphia 76ers upon clearing waivers, Mark Bartelstein of @PrioritySports tells ESPN. pic.twitter.com/gfGDln0lJ0

— Adrian Wojnarowski (@wojespn) February 11, 2024

Lowry will sign for $2.8 million for rest of season, Bartelstein tells ESPN.

— Adrian Wojnarowski (@wojespn) February 11, 2024

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A post shared by Kyle Lowry (@kyle_lowry7)

He will also reunite with head coach Nick Nurse, who was his head coach for three seasons (2018-21) with the Toronto Raptors. Lowry helped Toronto win their first-ever title in 2018-19, Nurse’s first season as the team’s head man.

According to ESPN NBA cap insider Bobby Marks, the 76ers were roughly $4.9 million below the luxury tax before the signing and had roughly $10 million of their non-taxpayer midlevel exception available since it was hard-capped.

Philadelphia was $4.9M below the luxury tax before the signing and had close to $10M remaining of their non tax midlevel exception.

Before the buyout, Lowry had $10.6M left on his $29.7M contract. https://t.co/6gBqAj2xb6

— Bobby Marks (@BobbyMarks42) February 11, 2024

Even though Joel Embiid, the league’s reigning MVP, suffered a torn meniscus, the 76ers still went out and acquired Buddy Hield from the Philadelphia 76ers ahead of Thursday’s deadline. Lowry will help provide extra ballhandling off the bench, even though he doesn’t possess the quickness or aggressiveness that he had early in his career.

The soon-to-be 38-year-old is averaging 8.1 points, 3.5 rebounds, 4.0 assists and 1.1 steals in 37 games (35 starts). His 2023-24 start marked the least productive season of his career, despite starting it off strong efficiency-wise. He went through nearly a whole month without making more than three field goals before getting traded.

Perhaps a change of scenery to his hometown was good for Lowry. At minimum, he’s a strong veteran leader and a good teammate who can help mentor Tyrese Maxey, one of the NBA’s best guards.

What do you think about this move? Let us know in the comments!

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This is a breaking news story. Stay tuned for updates.

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