Because of a huge problem on luxury tax which reached almost $30-million, the Los Angeles Lakers management opted to waive or release Metta World Peace or formerly known as Ron Artest.
The 6-foot-7 World Peace has a 2012-2013 season averages of 12.4 points, five rebounds and 1.5 assists in 75 games.
World Peace is expected to receive a $7.7-million contract for the 2013-2014 regular season.
With the exit of World Peace, the Lakers will clear a cap space of $15-million.
Kobe Bryant expressed his remorse over the report and said that World Peace can still help the Lakers next season. (Chris Capulso)