From Peter May's Article in the Globe today :
According to a Clippers source, the team will announce today that it is buying out the contract of the 38-year-old guard.
NBA sources indicated that the Celtics, Mavericks, and Nuggets all are prepared to make Cassell an offer once he clear waivers in 48 hours. All three teams have their biannual exceptions available to give to Cassell (a maximum of $1.83 million) while the Mavs have their full mid-level available ($5.356 million) and Denver has $2.356 of its mid-level. The Celtics have spent all of their mid-level.
"It's weird. I've been playing 15 years and this is the first time anything like this has happened to me," Cassell said yesterday morning following the Clippers' shootaround in nearby Manhattan Beach (he didn't play in last night's 104-76 loss to Boston because of a sore right wrist).
"I've been dealing with this for a month and it's going to come to an end soon. Hopefully something positive will come of it. I'll let it rest and hopefully everything will work its way out.
"My agent has been talking to them about it, but until he calls me and tells me to pack my bag, I'm still here."
Hat tip to P2 for grabbing this first and putting it up in the forums