The team did not disclose terms of the deal, but The Athletic’s Shams Charania reports that Aldridge gave back $7.25 million in the buyout.
Spurs and LaMarcus Aldridge reach buyout agreement.
— San Antonio Spurs (@spurs) March 25, 2021
Earlier this month, Aldridge and the Spurs agreed to mutually part ways, with the team planning to waive him if a trade was not found ahead of the NBA trade deadline.
ESPN’s Adrian Wojnarowski reports that the Miami Heat are the frontrunners to sign Aldridge as a free agent, but the 35-year-old plans to talk with several teams before making his decision.
Aldridge is averaging 25.9 minutes, 13.7 points, 4.5 rebounds and 1.7 assists in 21 games this season. He has been a member of the Spurs since the 2015-16 season.