Atlanta was given a $5.25 million exception for their loss of Horford who is out for the season with a torn pectoral muscle, while the Bucks received a $1.75 million one for Delfino, who is out after foot surgery.
For the Hawks, this is pretty big as they try and recoup their depth with the loss of Horford. There really isn't a quick fix available on the open market, unless they feel so bold to try out Andrew Bynum, but a $5.25 million exception is something that's very valuable as the trade deadline approaches. It'll certainly be interesting to see how they approach it, whether they actively try and improve, or just accept this season's circumstances and face out a bit.
In the Bucks case, it doesn't mean a whole lot other than they could possibly use it for a deal to acquire future assets or something.
A team must apply for the exception and if granted, it can be used in trade, or in signing free agents. It expires March 10.