It's just a procedural move. Oden is out for the year -- and maybe his career -- due to his well-documented knee woes. He was going to be an unrestricted free agent after the season anyway and will be hoping an NBA team is willing to take a shot on damaged upside.
PREVIOUS CONTRACTS
2011-2011Team:Portland Trailblazers
Contract: 1 yr(s) / $1,500,000
Free Agent Type:UFA
2011: 1,500,000
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2007-2010
Team:Portland Trailblazers
Contract: 4 yr(s) / $21,795,444
Free Agent Type:RFA
2007: 4,662,000
2008: 5,011,680
2009: 5,361,240
2010: 6,796,524
2011: 8,788,681
Portland declined Qualifying Offer for 2011-2012 season
TRANSACTIONS (Contract history)
Mar 15 2012
Waived by Portland (POR)
Dec 10 2011
Signed a 1 year $1.5 million contract with Portland (POR)
Jun 29 2011
Portland (POR) tendered a Qualifying Offer of $8,788,681 to make him a restricted free agent
Oct 16 2009
Portland (POR) excercised $6,796,524 option for 2010-2011 season
Oct 25 2008
Portland (POR) excercised $5,361,240 option for 2009-2010 season
Jul 1 2007
Signed a 2 year $9,673,680 contract with
