http://philadelphia.comcastsportsnet...72004-snow.asp
King also said that while money was a factor, it wasn't the primary motivation behind the deal. Neverthless, by trading Snow, who earned $4.5 million last season, the Sixers open up some room under the salary cap. Last October, Snow signed a four-year extension that expires in 2008-09. Ollie is currently in the midst of a 5-year, $15 million deal that expires in 2007-08. Brown is entering the final year of a four-year, $7.26 million contract
I think the final year of Ollie's contract is an option, but I was still wrong regardless. I guess in effect it can be view as a salary dump, but not a great one.