I thought of that as well when head this news. However, I think they can waive Steven Hill, I don't think his contract is guaranteed. They sent him to the D-League and they recalled him a few days ago, probably to assess him for a last time. So, answering your question: probably not. Although I still believe Joe Smith will be bought out at some point.
This signing is intriguing, all the reports from Russia I read were stating that Krstic was underwhelming and anywhere near his pre-injury level.