"The Richard Hamilton era is over in Motown.

Hamilton, the leading playoff scorer in Pistons history, reached a buyout agreement with the team, according to a source. Hamilton was owed a pro-rated $12.6 million this season and 75 percent of the same amount for 2012-13.

The Pistons did not have to use the amnesty clause because the buyout was far less than the $20 million he was owed, benefiting both parties. Hamilton is free to pick his own team as opposed to being bid on by teams under the cap, while the Pistons still have the option to use the clause if they so choose.

"It's just a verbal agreement right now, so nothing's official," Pistons president Joe Dumars said. "Once it's official, I can get into detail about why buyout instead of amnesty."

The Pistons will have the cap hit, which is the only detraction from not using the clause. Hamilton spent nine years in Detroit, being one of the most efficient, effective shooting guards in the league. His best season was in 2006, when he averaged 20.1 points, 3.4 assists and 3.2 rebounds.

He often went head up with Kobe Bryant, Dwyane Wade and the league's best at his position, helping the Pistons win the 2004 NBA title and being an integral part of their run of six straight conference finals appearances. He often raised his game in the playoffs, averaging 20.6 points, 4.0 rebounds and 3.7 assists."