Report: OKC will buy out, trade, or waive Carmelo to save $100M

The Oklahoma City Thunder are ready to move on following a disastrous season with Carmelo Anthony.

There is a mutual understanding between the two sides that they will part ways this summer, according to ESPN's Adrian Wojnarowski and Royce Young.

OKC can save over $100 million by trading, waiving, or reaching a buyout with the 34-year-old forward who picked up his $27.9-million player option earlier this summer. Thunder general manager Sam Presti and Anthony's agent Leon Rose have a strong relationship, and they will work in tandem to find a solution.

Finding a taker for Anthony's onerous contract will be tremendously difficult, and Anthony still holds veto power in any trade. If a deal can't be found, the Thunder could save $107 million in salary and luxury taxes by using the stretch provision.

As of right now, the Thunder are facing $300 million in combined luxury tax and payroll following a busy summer in which they re-signed Paul George, Jerami Grant, and Raymond Felton. Even without Anthony on the books, the Thunder will still be $8 million over the tax.

Anthony struggled immensely playing as the third option for the first time over his illustrious 15-year career following an offseason trade from the New York Knicks. Anthony shot an abysmal 40.4 percent from the field and averaged under 20 points per game for the first time in his career, while still being a turnstile on defense.

To make matters worse, Anthony consistently scoffed at the idea that he should come off the bench. He eventually accepted a reduced role in the offense as just a spot-up shooter, but his performance deteriorated to the point where he was borderline unplayable in the playoffs.