Here's more, via Lee:
. . . [N]o formal proposals have been made. Bibby makes $5.8 million this season and is on the books for $6.4 million next season. Bibby would have to sacrifice a lot of money and get waived by Tuesday in order to be eligible to join a playoff team this season.Really, most of the discussions are probably about that $6.4 million number Bibby is due next season. The Wizards are likely playing hardball on the matter -- which they should -- and if Bibby really does want to get out of Washington to play for a contender this season, he'll have to give back a decent chunk of change.
Portland, Miami and Boston are reportedly interested in signing Bibby if he can reach an agreement. Grunfeld has said he wouldn't close the door on any situation as it relates to a buyout. According to a league source, the Wizards tried to move Bibby again, almost immediately after acquiring him from the Hawks, but were unable to get anything done before the trade deadline.
If the Wizards do reach a buyout agreement with Bibby, the team will have one problem, though it's a small one for a young, rebuilding team: There isn't another point guard on the current roster. The Wizards could bring back Mustafa Shakur, who signed two 10-day contracts earlier this season. Those deals have expired though, and he's not listed on the current Wizards roster. If the Wizards do choose that option, they'd have to sign Shakur for the remaining 20-plus games, since they can't offer him another 10-day contract. The Wizards could also choose to go in a different direction and bring in someone else, probably from the NBDL.
A few games ago, when Kirk Hinrich was still on the Wizards and injured, Josh Howard played point guard when John Wall was on the bench. I doubt the Wizards would want to play the rest of the season with Howard as the backup point guard, but I guess it's at least possible. I guess we'll find out on Tuesday.