Six-time NBA All-Star bought out, intends to sign with Eastern Conference contender

It will be a homecoming for Lowry, who grew up in Philadelphia and played at Villanova. The move will also reunite Lowry with Nick Nurse, his long-time coach in Toronto.

A video announcing Lowry’s decision was posted on Twitter by Priority Sports.

The Sixers will pay Lowry $2.8M for the rest of the season, Bartelstein tells Woj. The team is $4.9M below the tax threshold and has nearly $10MM of its non-taxpayer mid-level exception remaining, tweets Bobby Marks of ESPN. He adds that Lowry had $10.61M left on his $29.7M contract before the buyout.

Lowry had been expected to pursue a buyout in Charlotte ever since Miami sent him there in a Jan. 23 trade involving Terry Rozier. Lowry never played for the Hornets, and he will have been off for more than a month if he doesn’t suit up for the Sixers before the All-Star break.

The 37-year-old point guard started 35 of the 37 games he appeared in with the Heat this season, but his playing time dropped to its lowest level in more than a decade and his numbers were down across the board. Lowry was averaging 8.2 points, 3.5 rebounds and 4.0 assists in 28 minutes per night.

He will bring a veteran presence with plenty of playoff experience to the Sixers, who have been reeling since Joel Embiid was lost with a knee injury. Philadelphia only has 12 players on its 15-man roster in the wake of the trade deadline, so a corresponding move won’t be necessary to add Lowry. His departure leaves Charlotte with one roster opening.