The Lakers waived the small forward using an amnesty clause. By doing so, Los Angeles saves nearly $14 million in an effort to cut their luxury tax liability.
The general manager of the Lakers, Mitch Kupchak told reporters how tough it was to part with World Peace, as he is a great person and played a big part for the team especially when they defeated the Boston Celtics to win the NBA finals in 2010.
Kupchak also praised World Peace for his efforts both on and off the basketball court. World Peace has done a great deal of work in the community.
The Lakers must still pay World Peace his salary next season of $7.7 million, but he now can go play with other teams that have cap room.
Jose Morales a confidant and close friend of World Peace said the small forward would only like to play in Los Angeles, with the Clippers, or in New York.
The veteran of 14 seasons had a resurgence of sorts last season and said he would consider playing in the Far East and then return to the NBA in the spring to play for a playoff contender.
World Peace has played for five teams in the NBA over his 14 seasons, including the Lakers, Indiana Pacers, Chicago Bulls, Houston Rockets and Sacramento Kings.