ATLANTA -- Gary Payton wants to finish out the season with a playoff contender. The Atlanta Hawks don't fall into that category.
The Hawks waived Payton on Tuesday, the deadline for players to clear waivers and be eligible for a playoff roster.
Atlanta, which had the NBA's worst record (10-45) heading into Tuesday night's game at Denver, acquired Payton last week at the trade deadline in a deal that sent leading scorer and rebounder Antoine Walker to the Boston Celtics.
But Payton never reported to the Hawks and sought a buyout of his contract by Tuesday, which he got.
"Everything's fine," Hawks general manager Billy Knight said. "It's good for Gary, it's good for us. We want our young players to get playing time, and he wants to be a free agent and make the playoffs." Full story
Gund hands Cavs' reins to new owner
CLEVELAND -- Detroit mortgage magnate Dan Gilbert assumed majority ownership of the Cleveland Cavaliers, taking over a once troubled NBA franchise saved by the play of LeBron James.
Gilbert has promised not to move the Cavaliers. The team's lease at Gund Arena runs through 2027.
Gilbert, who turned a $5,000 investment in the 1980s into an online banking empire, bought the Cavaliers for $375 million from Gordon Gund. Gilbert heads a principal ownership group that includes Grammy Award-winning R&B artist Usher; business partner David Katzman; and Gund, who will retain at least a 10 percent stake.
Gilbert, the 42-year-old founder of Quicken Loans, needed approval of only the NBA's board of governors to complete the transaction and take over day-to-day management of the team and operating rights to the 20,000-seat downtown arena. That consent finally came Tuesday.
Nashville ABA team out of playoffs
NASHVILLE, Tenn. -- The Nashville Rhythm are skipping the American Basketball Association playoffs, another odd turn for a team whose co-owner fired the coach during a game this season.
The team, which is up for sale, would have hosted a first-round game after finishing the regular season 21-10.
"We've lost several players and felt we were not ready for the playoffs," the owners said in a statement. "We decided to open a spot in the playoffs for a more competitive team."
ABA chairman Joe Newman said co-owner Tony Bucher informed him of the decision to bypass the playoff game Thursday night.
Hornets cut newly acquired players
NEW ORLEANS -- The New Orleans Hornets waived center Dale Davis and forward Glenn Robinson, just days after trading for the veteran players.
"Dale and Glenn have been quality players in this league for many years, but we knew when we made these trades that neither of them were a part of our plans for the future," Hornets General Manager Allan Bristow said. "By waiving them now, we can allow them to pursue an opportunity with another team this season."
Davis came to the Hornets along with Speedy Claxton shortly before last week's trading deadline in a deal that sent point guard Baron Davis to Golden State. But the Hornets never expected Dale Davis, whose contract expires after paying him $10.1 million this season, to report to New Orleans.
The Indiana Pacers and Detroit Pistons are among teams that have expressed interest in acquiring the 35-year-old center, who has averaged 8.5 points and 8.2 rebounds during his 15-year career.
