Tuesday , Feb , 17 , 2004 C.Y. Ellis

Bulls waive Jay Williams

Chicago, IL (Sports Network) – The Chicago Bulls Tuesday officially waived
guard Jay Williams. The announcement came only two weeks after the two sides
reached a settlement to buy out the remainder of his contract.

NBA rules claim that a player has to be put on waivers after a team and the
player reach an agreement on the contract.

The former Duke standout, who was seriously injured in a motorcycle accident,
will receive nearly $3 million of the $7.7 million he had left on his
contract.

“Jay’s accident was tragic and unfortunate,” said Bulls Executive Vice
President of Basketball Operations John Paxson. “We look forward to watching
the progress of Jay’s rehabilitation and remain hopeful he can some day rejoin
our team. But at the same time this allows us roster flexibility as we move
forward.”

Williams, the No. 2 pick in the 2002 NBA Draft, suffered a fractured pelvis
and three torn knee ligaments in addition to severing a main nerve in his leg
as a result of the crash last June.

The buyout frees up a roster spot for the Bulls and gives them added salary
cap flexibility.

In the meantime, Williams continues to undergo rehabilitation at Duke
University Medical Center with the hopes of someday resuming his playing
career.

During his rookie campaign, Williams appeared in 75 games, including 54
starting assignments, and averaged 9.5 points, 4.7 assists, 2.6 rebounds and
1.15 steals per game.

CHI