Sixers waive Webber

The Philadelphia Daily News reported the agreement for the buyout on Wednesday and the team later made it official during its 106-99 loss to the New York Knicks at Madison Square Garden.

According to the paper, Webber would give back less than $5 million in the deal. He was slated to make over $20 million this season and over $22 million next year under his current contract.

Once Webber clears waivers, teams will have the opportunity to sign him.

The exit of Webber, who Philadelphia acquired from Sacramento by trade in February of 2005, marks the second major shakeup for the rebuilding 76ers this season.

The Sixers traded guard Allen Iverson to Denver in December along with rookie Ivan McFarlin for guard Andre Miller, forward Joe Smith and a a pair of first- round draft choices.

A five-time All-Star, Webber has been limited to just 18 games this season because of right ankle and foot injuries. He missed 10 of Philadelphia’s last 13 games and is averaging 11 points, 8.3 rebounds and 3.4 assists per game this year.

In his career, Webber holds averages of 21.4 points, 10 rebounds and 4.3 assists in 779 games, all but two of those starts.

Webber was selected first overall in the 1993 draft by the Orlando Magic and was promptly traded to Golden State for guard Anfernee "Penny" Hardaway and three first-round draft picks. He averaged 17.5 points and 9.1 rebounds per game in his rookie season, but feuded with then Warriors coach Don Nelson before the start of his sophomore season, refused to report to training camp and was then traded to Washington.

He spent his next four seasons in Washington before moving on to Sacramento for the next six-plus seasons. The former Michigan product is best remembered from his college days as a member of the "Fab Five" and for calling a timeout his team didn’t have in the 1993 NCAA Tournament championship game with 11 seconds left in the contest and his team down by two.

That led to a technical foul being called and an eventual 77-71 defeat at the hands of North Carolina.