Biyombo's qualifying offer would have been $4.05 million.
This decision is unfortunate. Biyombo, still just 22 years old, recently blossomed into one of the Hornets' more consistent players. While still far from a finished product or anything reliable on either end of the floor, Biyombo flashed an improved understanding of team defense late in the season. Both the Hornets' defense and offense were better with Biyombo on the floor, surprisingly, evident in Biyombo's on/off rating of 3.5 per 48 minutes.
Still, the Hornets are over the cap if they tender Biyombo's qualifying offer, which would severely limit them in this year's free agency. The Hornets (read: Michael Jordan) want to be competitive, so they can no longer wait for everything to click with Biyombo. They're still over the cap, but now comfortably below the luxury tax, which Jordan has no interested in paying.
The Hornets are still limited in their ability to pursue free agents, having only a mid-level exception, bi-annual exception and two trade exceptions totalling roughly $1.2 million to play with in July.
The Hornets drafted Biyombo with the seventh pick in the 2011 NBA Draft.
So long, Biyombo. It's been a blast.