Celtics Waive Lonnie Walker IV for Financial Flexibility

The Boston Celtics have waived Lonnie Walker IV, despite his impressive preseason performance and strong training camp, due to financial constraints related to luxury tax penalties. Signing Walker to a standard contract would have cost the Celtics nearly $11 million in salary and tax penalties, which was deemed too high given their current payroll situation. Walker, who joined the Celtics on an Exhibit 10 contract, has the option to join their G-League affiliate, the Maine Celtics, or sign with another NBA team. While he showcased his abilities, averaging 7.3 points per game in the preseason, the Celtics prioritized financial flexibility by leaving their final roster spot open. There remains a possibility that Walker could return to the Celtics if they trade another player to make room for him. In the meantime, other teams might consider signing Walker, given his proven talent and playoff experience.