12:22 pm: At 12:22 pm, Memphis announced via press release that Russell is now on waivers (Twitter link).
The club also inked rookie guard Brendan Hausen, an Iowa undrafted free agent from June. Though terms stay hidden, it likely is an Exhibit 10 deal to lock his G‑League rights and grant a bonus after 60 days with the Memphis Hustle this fall.
11:48 am: Memphis officially waived veteran guard D’Angelo Russell, ESPN’s Shams Charania confirms (Twitter link).
Memphis faces a roster crunch after carrying 19 standard contracts into Friday. Russell was always the odd man out, and cutting him now gives him a chance to clear waivers before training camps start. In my view, this move boosts the team’s flexibility. Sources tell Brett Siegel of ClutchPoints he hopes to land with a playoff contender.
Once the No. 2 overall pick and a 2019 All‑Star, Russell’s minutes and output have nosedived in recent seasons.
The 30‑year‑old secured a two‑year, $11.7 MM deal with Dallas for the 2025/26 campaign, expected to replace Kyrie Irving as the starting point guard. Instead, he began the season off the bench and soon vanished from the rotation.
Russell logged just 26 games for the Mavericks, starting three and averaging a career‑low 10.2 points on .405/.295/.717 shooting. That marked his second consecutive year shooting well beneath his career marks. In 2024/25, he hit only 39.0% from the field and 31.4% from three in 58 outings with the Lakers and Nets.
The Mavericks dealt Russell to the Wizards at the 2026 deadline in the Anthony Davis blockbuster, yet he never reported that season’s second half. After exercising his player option in June, D‑Lo was sent to Memphis in July as part of a six‑team trade involving Isaiah Stewart, Santi Aldama, John Collins and Khris Middleton, among others.
Memphis will still owe Russell’s fully guaranteed $5.97 MM expiring salary. The club must trim the roster before opening night to hit the 15‑man limit, currently sitting with 17 guaranteed contracts plus Jaylen Wells on a partially guaranteed deal. Will the Grizzlies secure a balanced roster in time for opening night?