As first reported today by NBC Washington's Dan Hellie on Twitter, the Wizards have bought out the remainder of newly acquired guard Mike Bibby's contract.
Bibby was acquired last week in a trade that sent Kirk Hinrich to Atlanta. But he was so anxious to get out of D.C. and get to a playoff contender that he gave up nearly all of the money he was owed -- which was $6.2 million for next season.
With 13 nearly NBA seasons under his belt, Bibby wants a ring. In Miami he has a chance to win and contribute. Bibby would likely move right into the starting lineup ahead of both Mario Chalmers and Carlos Arroyo
It will take 48 hours for Bibby to clear waivers, so any deal won't be announced until Wednesday.