Bibby buys out Wizards contract, seeks playoff contender
{{#rendered}} {{/rendered}}WASHINGTON (Reuters) - Guard Mike Bibby has bought out his contract with the Washington Wizards less than a week after being acquired from the Atlanta Hawks, the Wizards said.
"We agreed to terms with Mike on a buyout of his contract, which gives us increased financial flexibility and opens up more opportunities," Wizards President Ernie Grunfeld said in a statement.
Bibby, who is seeking to join a playoff contender, will be required to give back his 2012 salary of $6.2 million as a part of the buyout, the Washington Post reported (www.washingtonpost.com).
{{#rendered}} {{/rendered}}He will receive the remainder of his $5.7 million for this season, the Post said.
Bibby, 32, was acquired by the Wizards on Feb 23 along with guard-forward Maurice Evans, guard Jordan Crawford and a 2011 first round pick. Washington sent guard Kirk Hinrich and center-forward Hilton Armstrong to the Hawks.
Bibby appeared in two games for the Wizards, collecting two points and eight assists.
{{#rendered}} {{/rendered}}(Reporting by Gene Cherry in Salvo, North Carolina. Editing by Steve Ginsburg)