wizenheimer
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It also keeps a cap hold in place, right?
As opposed to not extending a QO to Elleby, which removes the cap hold...?
as I understand it, renouncing the QO simply eliminates Portland's right of first refusal; Elleby is UFA now. But I believe Portland still has Early Bird rights, which keeps the cap-hold (1.97M) in place until/unless the Blazers renounce the EB rights
maybe I have that wrong though
edit: and I wrote that before I saw that cj-is-gone had done a better job of explaining it
