Originally Posted by ninephive
short anwer: it's a paperwork issue..
longer: it never had actual effect (minimal % wise) on the teams cap space despite there being a cap hold listed because they never had cap space. some were on purpose, some just have never taken care of the paperwork .... he's not actually on the payroll but because either he has not turned in the paperwork for his retirement or the Lakers have not officially waived him they still have the rights to him and there's still a small cap hold in place.
Expect those names (there's about 10 if i remember) to come of this summer with the Lakers having actual cap space, with the Lakers always being so far above the cap it was never an issue but they'll want to clear every penny off the books this summer even if it's minimal