Via Marc Stein’s Twitter:

“All 30 NBA teams have been notified by official league memo that the Knicks have waived guard Cuttino Mobley”

“Mobley release will save Knicks roughly $9.5 million in luxury-tax payments, reducing their tax bill in July to $5 million range”

“Mobley release also reduces rebate check teams get for staying under NBA’s $69.9 million luxury-tax threshhold from $4 mil to $3.7 mil”