The Washington Wizards’ trade for veteran center Kelly Olynyk this summer made sense on paper, but it wasn’t intended to last. They sent the 34-year-old to the San Antonio Spurs on Tuesday, adding to their already flexible financial condition.
The whole trade details are below:
Wizards receive:
G. Malaki Branham
G. Blake Wesley
2026 second-round pick (least attractive among PHI, DAL, and OKC).
Spurs receive:
C. Kelly Olynyk
According to Michael Scotto of HoopsHype, this move gives Washington extra salary cap room.
“By trading Kelly Olynyk to the Spurs, the Washington Wizards increased their tax and apron buffer to take on more salary throughout the summer and season,” according to his account. “Washington also established a $13.5 million TPE (traded player exception). “Olynyk joins a competitive Spurs team during his contract year ($13.45 million).”
TPEs are formed when a team trades a player and receives a lower incoming salary than it sent out. That’s what happened here, as Olynyk’s $13.45 million contract next season exceeds Branham’s ($4.96 million) and Wesley’s ($4.73 million) combined. The Wizards can now use the TPE to recoup $13.5 million in salaries without increasing their cap or luxury tax.
That will come in handy later, when they will undoubtedly accept more unwelcome funds in return for draft capital and/or young players. For now, they must reduce their active roster, which currently contains 17 players:
F Khris Middleton
G CJ McCollum
G Marcus Smart G Corey Kispert (F/C) Richaun Holmes (F/C) Players: Alex Sarr, Tre Johnson, Bilal Coulibaly. Bub Carrington G. Cam Whitmore
F Will Riley G Malaki Branham
G AJ Johnson
G/F Kyshawn George Dillon Jones G Blake Wesley F. Justin Champagnie
Although Washington currently lacks centers, Holmes is another player who may be on his way out soon, according to Scotto.
“Sources: Wizards center Richaun Holmes is partially guaranteed $250,000 of his $13.28 million salary for the 2025-26 season, which makes him a prime candidate to be eventually waived or traded, given Washington’s roster logjam,” he tweeted. “He averaged 7.4 points and 5.7 rebounds last season.”
Eating nearly no dead money after reducing the 6-foot-9-inch, 235-pounder’s contract would easily free up a roster spot for the Wizards to sign a taller center. Except for the 7-foot Alex Sarr, they have no one taller than 6-foot-9 inches. However, they might re-sign 7-foot Tristan Vukcevic, a restricted free agent.
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