What is the NBA buyout market and why do teams buy out players?

Thursday’s NBA trade deadline has come and gone. This means that teams looking to be competitive will now turn their attention to the NBA buyout market.

For those unfamiliar with the term, a buyout is when a player gives back a percentage of their guaranteed salary to their current team. The player does so to be able to become an unrestricted free agent and sign with whichever new team they would like.

Most buyouts usually happen shortly after the trade deadline, with basically all of them being completed before March 1. This is because in order for a player to be playoff-eligible with their new team, they have to have been bought out before March 1.

In most cases, buyouts usually involve established veteran players on struggling teams who have already made their fair share of money in the league. These types of veterans are often more than willing to sacrifice some of their paychecks for a chance to join a title contender.

However, sometimes buyouts also involve younger players who just want to go to a situation where they will receive more playing time.

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Who are some of the most prominent buyout candidates this season?

NBA veteran point guards Patrick Beverley, John Wall and Russell Westbrook

A flurry of trades went down at Thursday’s trade deadline involving veterans being shipped to bottom-feeding teams. Many of these players were included to match salaries in their respective teams' deals. This should lead to a lot of activity in this year’s buyout market.

Some examples of veterans in undesirable situations following the deadline who could reportedly be bought out or are already negotiating buyouts include the following:

- Russell Westbrook (Utah Jazz)

- John Wall (Houston Rockets)

- Reggie Jackson (Charlotte Hornets)

- Danny Green (Houston Rockets)

- Patrick Beverley (Orlando Magic)

- Derrick Rose (New York Knicks)

- Kevin Love (Cleveland Cavaliers)

- Will Barton (Washington Wizards)

- Serge Ibaka (Indiana Pacers)

- Dewayne Dedmon (San Antonio Spurs)

- George Hill (Indiana Pacers)

- Nerlens Noel (Detroit Pistons)

- Terrence Ross (Orlando Magic)

- Richaun Holmes (Sacramento Kings)

Over the next few days, this list will likely only continue to expand as teams prepare to finalize their rosters for the playoffs.

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For a ranking of the top five potential buyout candidates, click here.