Hey, remember that time about 21 hrs ago when we were talking about how "Player X isn't enough compensation for Augustin"? Yeah, well... about that... now the Charlotte Bobcats are getting nothing.
Announced today by team representative B.J. Evans, the Bobcats have withdrawn their qualifying offer from Augustin, immediately making him an unrestricted free agent. It's an unfortunate end to his tenure in Charlotte as the Bobcats lose their second former 1st round pick at PG without getting anything in return. Augustin will join Raymond Felton as they both try to find greener pastures this off-season.
The writing was on the wall that Charlotte would go in a different direction, especially after signing Ramon Sessions today, but nobody really thought the Bobcats would get nothing for the former 1st round pick. There were rumors last night that Augustin turned down a 2-year deal that would have facilitated a sign-and-trade, but nothing was concrete on that end. As it stood he was scheduled to make $4.4 million this year for the Bobcats, provided they were unable to trade him.
In the end that's the most likely scenario-- nobody really wanted him enough to work a trade. At that rate, a 3rd PG who clearly wasn't happy in Charlotte after the drafting of Kemba Walker was not in the cards for a rebuilding franchise. This move is an apropros close to the previous regime, and a staunch reminder this is a new Bobcats organization; it's time to cut the losses and move on.