Gordon Hayward is cashing in.
The stretch provision allows Charlotte to waive Batum and then stretch the impact of his remaining $27-million salary on the Hornets' cap space over the next three seasons.
Hayward became a free agent after turning down his $34.2-million player option for next season with the Boston Celtics. His new contract with Charlotte will be guaranteed for all four seasons, reports The Athletic's David Aldridge.
Hornets owner Michael Jordan has previously tried to bring the former Butler product to Charlotte. In 2014, the Hornets extended a $63-million offer sheet to Hayward, who was then a restricted free agent with the Utah Jazz. However, Utah matched the offer sheet and retained him. Hayward remained with the Jazz until 2017 before signing a four-year, $128-million contract with the Celtics.